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Author Question: Assume a government likes a particular equilibrium along the contract curve. It can achieve that ... (Read 35 times)

TFauchery

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on: Jul 1, 2018
Assume a government likes a particular equilibrium along the contract curve. It can achieve that equilibrium through competition and income redistribution.
 
  Indicate whether the statement is true or false

Question 2

Suppose the current market wage rate (w) is 4. In the short run, a firm's marginal cost at the current output level is 2. What is this firm's marginal product of labor?
 
  A) MPL = 0.5
  B) MPL = 1
  C) MPL = 2
  D) MPL = 8


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snackralk

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Reply #1 on: Jul 1, 2018
Answer to Question 1

True . This statement is called the Second Welfare Theorem.

Answer to Question 2

C


TFauchery

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Reply #2 on: Jul 1, 2018
Correct answers!


snackralk

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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