Firms will hire additional workers as long as the wage:
A. equals the marginal product of labor.
B. is less than the value of the marginal product of labor.
C. is greater than the marginal product of labor.
D. is less than the marginal product of labor.
Answer: B
Economics
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If a firm is price differentiating, then it is
A) producing a homogeneous product. B) charging different prices to different consumers based on differences in marginal costs. C) charging different prices based on quality. D) charging different prices based on advertising costs.
Economics
Social media, such as the online social networking portal Meetup, have increased the likelihood of people forming social tribes by reducing the transaction costs associated with forming such groups.
Answer the following statement true (T) or false (F)
Economics