A decrease in the marginal factor cost of labor will
A. lead to an decrease in the quantity demanded of labor.
B. cause the value of the marginal product of labor to decrease.
C. induce a firm to hire more workers.
D. induce a firm to hire fewer workers.
Answer: C
Economics
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An economist estimates the value of a nature preserve by calculating the price premium people pay for houses located adjacent to the preserve. This is an example of what type of economic valuation?
a. Hedonic pricing b. Production function valuation c. Contingent valuation d. Travel cost method e. Engineering cost valuation
Economics
Subsidies ________ the price paid by the buyer and ________ the price received by the seller
A) increase, increase B) increase, decrease C) decrease, increase D) decrease, decrease E) do not change; increase
Economics