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

Author Question: What happens to the marginal product (MP) of labor when the market price of the good produced ... (Read 62 times)

Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
What happens to the marginal product (MP) of labor when the market price of the good produced increases?
 a. Increases proportional to price.
  b. Decreases proportional to price.
  c. Stays the same.
  d. Falls because quantity demanded falls.
  e. Rises because quantity demanded falls.

Question 2

According to classical economists, government intervention is:
 a. necessary to maintain a stable price level in the long run.
  b. necessary to maintain a stable price level in the short run.
  c. necessary to maintain full employment in the long run.
  d. necessary to maintain full employment in the short run.
  e. not necessary to maintain full employment.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Sierray

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

e


Pineapplelove6

  • Member
  • Posts: 560
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

bbburns21

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

The site of Dmanisi has produced some of the earliest H. erectus outside of Africa. The site of Dmanisi has produced some of the earliest H. erectus outside of Africa.
Responses Produced by Activation of Specific Opioid Receptors Responses Produced by Activation of Specific Opioid Receptors
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
Nuts are also a good source of dietary fibre Nuts are also a good source of dietary fibre
How many grams of H2 gas can be produced by the reaction of 54.0 grams of Al(s) with an excess ... How many grams of H2 gas can be produced by the reaction of 54.0 grams of Al(s) with an excess ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Ultrasound of a Fetus (Sonogram)

For a complete list of videos, visit our video library