If the price level rises by 3 percent and workers' money wages increase by 3 percent, then the
A) quantity of labor demand will decrease.
B) quantity of labor demand will increase.
C) quantity of labor demanded does not change because there is no change in the real wage rate.
D) Any of the above could occur depending on the magnitude on the dollar increase in the price level versus the dollar increase in the wage rate.
C
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In a three-player game, a Nash equilibrium exists when all players are playing their best response to one another
Indicate whether the statement is true or false
Susan wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $1.50 per gallon, the car wash costs $1, but if she buys 10 gallons of gasoline, the car wash is free. For Susan, the marginal cost of the tenth gallon of gasoline is:
a. zero. b. 50 cents. c. $1 d. $1.50.