An increase in the cost of acquiring human capital will shift the labor supply curve to the left; eventually, this will tend to increase the equilibrium wage rate

a. True
b. False

A

Economics

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A surplus occurs in a market when:

A) demand exceeds supply. B) price is lower than the equilibrium price. C) price is higher than the equilibrium price. D) the marginal cost of production is negligible.

Economics

The figure above shows the market for milk. If the efficient quantity of milk is produced, the consumer surplus is

A) $100. B) $400. C) $200. D) $600.

Economics