When the wage rate increases:
a. all workers wish to work more hours
b. all workers wish to work fewer hours.
c. the number of hours laborers wish to work does not change.
d. some workers will wish to work more hours, and some will wish to work fewer hours.
d
Economics
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Refer to Table 13-4. Victoria's profit-maximizing quantity sold (Q) and price (P) are
A) Q = 4; P = $6. B) Q = 5; P = $5. C) Q = 6; P = $4. D) Q = 3; P = $7.
Economics
The purpose of collateral and restrictive covenants is to reduce ________ in debt contracts
A) adverse selection B) transactions costs C) moral hazard D) loan amounts
Economics