Refer to Table 17-1. Suppose the output price is $3. If the wage rate is $90, what is the profit-maximizing quantity of labor that the firm should hire?
A) 7 units B) 5 units C) 4 units D) 3 units
A
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Suppose a U.S. computer company outsources its technical-support services to India. This will cause
A) the demand for labor in the United States to fall, lowering U.S. wage rates, and the demand for labor in India to increase, increasing Indian wage rates. B) the demand for labor in the United States to increase, lowering U.S. wage rates, and the demand for labor in India to fall, increasing Indian wage rates. C) the demand for labor in the United States to fall, lowering U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates. D) the demand for labor in the United States to increase, increasing U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates.
When health care is made available to the poor without cost, the poor consume
A. more health care services than they otherwise would. B. the same health care services that they otherwise would. C. only the health care services essential for their survival. D. fewer health care services than they otherwise would.