This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a firm hires its fourth worker for 5 and its fifth worker for 8, then a. the firm is a ... (Read 108 times)

nelaaney

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
If a firm hires its fourth worker for 5 and its fifth worker for 8, then
 a. the firm is a monopolist.
  b. the firm must be substituting capital for labor.
  c. the fifth worker must have been less productive than the fourth.
  d. the firm is not maximizing its profit.
  e. the labor market is not perfectly competitive.

Question 2

Which of the following is the purpose of a minimum wage?
 a. To reduce the wage rates of high-income workers
 b. To keep a track of the changes in the wage rate in an unskilled labor market
  c. To deal with the problem of unemployment in the market
 d. To help increase the profits earned by the producers
 e. To raise the wage rate for the lowest income workers


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

emilymalinowski12

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

e


nelaaney

  • Member
  • Posts: 560
Reply 2 on: Jun 30, 2018
Wow, this really help

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

The approval of a new drug is a four-stage process: (1) preclinical investigation, (2) clinical inve The approval of a new drug is a four-stage process: (1) preclinical investigation, (2) clinical inve
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ... How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ...
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Video: Allergic Rhinitis

For a complete list of videos, visit our video library