Refer to the above table. How many units of resource Y would the firm employ at a price of $50 per unit of Y?

What was the official policy of the British colonies toward the practice of "squatting," or freely settling and cultivating the land?

(a) Squatting was encouraged as a way to promote settlement of the land. (b) Colonial officials discouraged squatting because the indigenous populations legally owned land. (c) There was no policy toward the practice of "squatting"; it was left to the individual settlers. (d) The official policy opposed squatting because it did not involve a formal transfer of ownership.

If the price of labor increases, employers will hire more labor because it is more valuable

a. True b. False