Which of the following represents a perfectly competitive farmer's demand curve for hired hands?
a. her ATC curve
b. her AVC curve
c. her MRP curve
d. her MRC curve
e. her AFC curve
C
Economics
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Suppose the economy's production function is Y = AK0.3N0.7. If K = 2000, N = 100, and A = 1, then Y = 246. If A rises by 10 percent, and K and N are unchanged, by how much does Y increase?
A) 5% B) 10% C) 15% D) 20%
Economics
Modern Monetarists argue that the velocity of money is
A) constant. B) the inverse of the money multiplier. C) unmeasurable. D) predictable.
Economics