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Author Question: According to the classical model, workers chose a level of labor that equates the a. real wage ... (Read 50 times)

audragclark

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on: Jun 30, 2018
According to the classical model, workers chose a level of labor that equates the
 
  a. real wage and marginal product of labor.
  b. nominal wage and marginal product of labor.
  c. the marginal utility of consumption and the marginal disutility of lost leisure.
  d. the marginal utility of consumption with the real wage.

Question 2

The goal of the representative firm is to
 
  A) hire as much labor as possible.
  B) maximize revenue.
  C) minimize labor costs.
  D) maximize profits.


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T4T

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

D


audragclark

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

apple

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Reply 3 on: Yesterday
Excellent

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