If Marie buys a sailboat, which increases the productivity of her leisure time, she
a. increases her productivity of nonmarket work
b. increases her productivity of market work
c. will spend less time in nonmarket work
d. will spend less time in leisure activities
e. will spend more time in market work to pay for the boat's maintenance
C
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Refer to the above figure. An unregulated natural monopolist would choose
A) output rate of Q1 and price P2. B) output rate Q1 and price P5. C) output rate Q3 and price P3. D) output rate Q4 and price P1.
To maximize profit, a competitive firm hires workers up to the point of intersection of the
a. marginal product curve and the wage line. b. value of marginal product curve and the wage line. c. value of marginal product curve and the marginal revenue curve. d. total revenue curve and the wage line.