A household's reservation wage is the ________
A) lowest wage rate at which the household will supply labor
B) wage at which the household's labor supply curve bends backward
C) wage rate at which the household's income is largest
D) highest wage rate at which the household will supply labor
A
Economics
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Most businesses probably claim they use cost-plus-markup pricing because
A) they are price takers. B) they are maximizing net revenue. C) they have no better way to explain their price-setting behavior. D) they are responsible for long-run inflation.
Economics
If firms in a competitive market are identical, the long-run market supply curve is horizontal
Indicate whether the statement is true or false
Economics