Suppose an increase in the demand for labor results in an increase of $4 per hour in the equilibrium wage. How does the increase in the demand for labor affect the value of the marginal product of labor (VMPL)?
a. The VMPL increases by less than $4.
b. The VMPL increases by $4.
c. The VMPL increases by more than $4.
d. The VMPL decreases by $4.
b
Economics
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Which of the following would cause a leftward shift in the investment function?
A) technological progress B) a reduction in the rate of interest C) optimistic expectations about business conditions D) an increase in business taxes
Economics
A decrease in the price of domestically produced nuclear reactors will be reflected in
a. both the GDP deflator and the consumer price index. b. neither the GDP deflator nor the consumer price index. c. the GDP deflator but not in the consumer price index. d. the consumer price index but not in the GDP deflator.
Economics