Anthony's Accountants is the only employer of accountants in the island of Fairisle. The table gives the demand and supply of accountants on Fairisle. The marginal cost of hiring a sixth accountant is ________ an hour
A) $20
B) $15
C) $25
D) $45
D
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Which of the following would one expect if there were no trade in goods but resources were free to move among countries?
a. Labor will immigrate from the capitalabundant country. b. Labor will emigrate to the capitalabundant country. c. Labor will emigrate to the capitalscarce country. d. Labor will immigrate from the capitalscarce country.
Mr. McConaughey has the afternoon, 5 hours, to spend doing whatever he wants. How much time does Mr. McConaughey spend with his friends and family and how much time does he spend breaking a sweat to maximize his total utility?
A) 3 hours with friends and family and 2 hours breaking a sweat B) 2 hours with friends and family and 3 hours breaking a sweat C) 0 hours with friends and family and 5 hours breaking a sweat D) 3 hours with friends and family and 4 hours breaking a sweat