A firm's demand for labor is known as a "derived demand" because:
a. the firm gains utility from hiring more labor.
b. the amount of labor hired depends upon how much output the firm can sell.
c. the wage rate paid to workers is derived from the market for labor.
d. it's derived from the demand for capital.
b
Economics
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For a common resource, the equilibrium with no government intervention is such that ________ is less than ________
A) marginal private cost; marginal social benefit B) marginal social benefit; marginal social cost C) marginal private benefit; marginal social benefit D) total social benefit; total social cost
Economics
Excise taxes are designed to ______.
a. tax all products equally b. tax distinct products only c. help low-wage earners invest more d. help low-wage earners afford necessities
Economics