Refer to the given data. If the firm is hiring workers under purely competitive conditions at a wage rate of $10, it will employ:
A. 2 workers.
B. 3 workers.
C. 4 workers.
D. 5 workers.
D. 5 workers.
Economics
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The change in total cost resulting from a one-unit increase in production is called: a. average fixed cost
b. average variable cost. c. marginal cost. d. marginal revenue.
Economics
When the economy has an income tax that is variable, the multiplier is
a. unchanged. b. larger. c. smaller. d. unpredictable.
Economics