Other things equal, one would predict that market wages would be relatively high when
a. the supply of labor is high.
b. the demand for labor is low.
c. the supply of labor is low.
d. Both (a.) and (b.) are correct
c
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The price elasticity of demand for a good is 0.2 . A 10 percent rise in the price will _______ the total revenue from sales of the good
A. decrease B. increase C. decrease the quantity sold with no change in D. not change
The efficient level of pollution is greater
a. The higher the marginal social benefit of abatement function and the higher the marginal social benefit of abatement function. b. The higher the marginal social benefit of abatement function and the lower the marginal social benefit of abatement function. c. The lower the marginal social benefit of abatement function and the higher the marginal social benefit of abatement function. d. The lower the marginal social benefit of abatement function and the lower the marginal social benefit of abatement function.