Labor market equilibrium occurs at a real wage where the demand for labor exceeds the supply of labor.
Indicate whether the statement is true or false
Question 2
If the marginal rent cost of moving from Apartment 1 to Apartment 2 is -60, and marginal commuting cost of moving from Apartment 1 to Apartment 2 is 40:
A) moving from Apartment 1 to 2 will save the renter 60 more in rent and 40 more in commuting.
B) moving from Apartment 1 to 2 will cost the renter 60 more in rent but save 40 in commuting.
C) moving from Apartment 1 to 2 will cost the renter 60 more in rent and 40 more in commuting.
D) moving from Apartment 1 to 2 will save the renter 60 in rent but cost 40 more in commuting.
Assume that a firm wants to set up a factory. It has four different options. The rent of the factory in the four different locations and the time taken to transport the product from each location to the market is shown in the table below. The opportunity cost of time is 10 per hour.
Factory Location Monthly Commuting Time (hours) Monthly Rent ()
Very Far 30 2,060
Far 25 2,100
Close 15 2,300
Very Close 5 2,500
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
Blood Supply to the Lungs
What will be the pH of the solution once equilibrium is established?
Markets and Institutions Market Story Problem
Markets and Institutions Market Story Problem
Hardy–Weinberg Equilibrium Genotype Frequencies for Three Alleles of a Gene