For a given level of the money wage, an increase in the price level will cause the
a. supply of labor to rise.
b. quantity of labor demanded to rise.
c. price of leisure to rise.
d. quantity of labor demanded to rise.
e. both b and d.
E
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Assume a company can offer customers cable television and Internet service at essentially zero marginal and average cost
The following table shows each customer's marginal willingness to pay for television, Internet services, and for a bundle containing both. If television and Internet services are sold separately, the profit maximizing prices are Television Internet Bundle Alex $100 $60 $160 Rebecca $80 $100 $180 A) television $100 and Internet services $60. B) television $80 and Internet services $100. C) television $80 and Internet services $60. D) television $100 and Internet services $100.
The practice of imposing import restrictions to protect a newly developing domestic economy typically results in:
a. a rapid improvement in the standard of living. b. expanded trade relations with other nations. c. lower prices of domestic products. d. allocation of resources away from the primary products. e. greater cost efficiency in domestic production.