The market price for Chinese televisions recently changed from $200 per television set to $150 . _____, will benefit the most from this change in price
a. Lee Gadgets Co., a retail shop that sells Chinese televisions to consumers
b. Wayne Inc., a manufacturer of Chinese televisions
c. Harry, a consumer who buys a Chinese television set
d. Light Inc., a wholesaler who sells Chinese televisions to retailers
c
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The division of labor and specialization explain
A) why the average product of labor falls when firms use more capital or change the layout of their businesses. B) why, when the marginal product of labor increases, so does the average product of labor. C) why the marginal product of labor rises as a firm hires its first units of labor. D) why firms may find it profitable to use more workers when the marginal product of labor is negative.
George is a kitchen designer at Home Depot. What might cause George's supply curve of labor to shift to the left?
a. Kitchen prices decrease due to a decrease in the cost of lumber. b. George wins the lottery. c. The wage rate George gets increases. d. The wage rate George gets decreases. e. George's MRP increases after he takes computer classes.