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Author Question: Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. Refer ... (Read 55 times)

fagboi

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on: Apr 19, 2019

Question 1

Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 












Refer to Figure 10.3. The market wage is initially 
W
1 and the firm is initially at Point 
B. Labor supply increases from 
S
1 to 
S
0. If the firm does not change the amount of capital it employs, the firm will move to Point ________ to maximize profits.


◦ A 
◦ C 
◦ E 
◦ F 

Question 2

Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 












Refer to Figure 10.3. The market wage is initially 
W
1 and the firm is initially at Point 
B. Labor supply increases from 
S
1 to 
S
0. The firmʹs 
MRPL curve will shift from 
MRPL at 
K
2 to 
MRPL at 
K
1 because


◦ the factor substitution effect will cause the firm to substitute capital for the lower-priced labor.
◦ the supply of labor increased and therefore the productivity of labor increased.
◦ the output effect led to ann increase in the demand for capital, which in turn increased the productivity of labor.
◦ the firm is no longer maximizing profits.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by fagboi on Apr 19, 2019

jaymee143

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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fagboi

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Reply #2 on: Apr 19, 2019
Excellent


jaymee143

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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