Author Question: As the price of a resource (e.g., labor) decreases, a. demand for that resource increases b. the ... (Read 90 times)

mckennatimberlake · **on:** Jun 30, 2018

As the price of a resource (e.g., labor) decreases,
a. demand for that resource increases
b. the quantity demanded of that resource decreases
c. the supply of that resource increases
d. producers are more willing and able to hire that resource
e. producers are less willing and able to hire that resource

Question 2

Marginal external costs are
a. additional unpriced costs imposed on society by producing one more unit of a good
b. the cost of damaged goods
c. the additional cost of imported goods
d. the total cost to society of producing a good
e. the marginal cost divided by the marginal revenue