A firm estimates that when output is 10, its total costs are $900 . It also finds that when output is 11, its total costs are $920 . The marginal cost of the eleventh unit of output is

Total employment tends to decrease in response to any increase in the legal minimum wage because

A) employers can usually find substitutes for unskilled workers. B) higher wages mean fewer family members will be forced to take jobs. C) wages must be paid out of profits and profits are limited. D) workers are often willing to trade jobs for income.

What is mechanism design? Give at least two examples

What will be an ideal response?