John's reservation wage is 10 per hour. This means that
A) John will not supply labor in the market until he receives a wage of at least 10 per hour.
B) John will supply labor in the market at a wage of 10 and lower.
C) John will work 10 hours per day.
D) John will decrease the hours he works when his wage rate exceeds 10 per hour.
Question 2
In the long run, a firm in monopolistic competition produces where the slope of the average total cost curve is
A) negative.
B) zero.
C) positive.
D) equal to the marginal cost.
John Muir
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