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 73 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
Great answer, keep it coming :)

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

No recombinants are produced without cell contact No recombinants are produced without cell contact
Good body mechanics for lifting heavy objects. Good body mechanics for lifting heavy objects.
Vegetable oils are good sources of essential fatty acids Vegetable oils are good sources of essential fatty acids
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
Find derivative using product rule Find derivative using product rule
Maple syrup is produced by evaporating most of the water from sap collected from maple trees in Maple syrup is produced by evaporating most of the water from sap collected from maple trees in
Video: Cognitive development by Piaget (Preoperational stage or intelligence)

For a complete list of videos, visit our video library