Suppose the quantity of nursing services demanded exceeds the ...

[james]

Suppose the quantity of nursing services demanded exceeds the quantity of nursing services supplied. The nursing wage rate will:
 
  A) decrease.
  B) increase.
  C) not change.
  D) none of the above

Question 2

Use the following statements to answer this question: I. The equal marginal principle may be used to characterize the maximum utility consumption decision even if the diminishing MRS assumption does not hold. II.
 
  The equal marginal principle implies that the MRS at the optimal consumption bundle is always equal to the price ratio. A) I and II are true.
  B) I is true and II is false.
  C) II is true and I is false.
  D) I and II are false.

[Ahernandez18]

Answer to Question 1

B

Answer to Question 2

D

[james]

Thanks for the timely response, appreciate it

[nguyenhoanhat]

Gracias!