Because of the income effect, a higher wage rate
A) shifts the supply of labor curve leftward.
B) shifts the supply of labor curve rightward.
C) leads to a decrease in quantity of labor supplied.
D) leads to an increase in quantity of labor supplied.
C
Economics
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Activities that firms, universities, and governments undertake to increase their knowledge base are referred to as:
A) primary activities. B) research and development (R&D) activities. C) secondary activities. D) tertiary activities.
Economics
It costs a firm $80 per unit to produce product A and $50 per unit to produce B individually. If the firm can produce both products together at $140 per unit of product A and B, this exhibits signs of
a. Economies of scale b. Economies of Scope c. Diseconomies of Scale d. Diseconomies of Scope
Economics