The principle that individuals and firms pick the activity level where the incremental benefit of that activity equals the incremental cost of that activity is known as the
A) spillover principle. B) principle of diminishing returns.
C) principle of opportunity cost. D) marginal principle.
D
Economics
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Which of the following is not held constant along a demand curve for labor by a firm?
A. The firm’s technology of production B. The price of the firm’s output C. The marginal product of labor for the firm D. The price of substitutes for the firm’s output
Economics
A long-run aggregate supply curve may graphically be represented as a
A. horizontal line. B. an upward sloping line. C. vertical line. D. a downward sloping line.
Economics