Author Question: The lowest wage for which a person is willing to supply labor is known as the A) substitution ... (Read 77 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
The lowest wage for which a person is willing to supply labor is known as the
 
  A) substitution wage.
  B) income effect.
  C) derived wage.
  D) reservation wage.

Question 2

Which of the following statements is TRUE?
 
  A) A perfectly competitive market produces more output and charges a lower price than a single-price monopoly.
  B) A perfectly competitive market produces more output and charges the same price as a single-price monopoly.
  C) A perfectly competitive market produces less output and charges a lower price than a single-price monopoly.
  D) A perfectly competitive market produces less output and charges the same price as a single-price monopoly.



Swizqar

  • Sr. Member
  • ****
  • Posts: 357
Answer to Question 1

D

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

For a complete list of videos, visit our video library