If the price of a firm's output rises, its
A) marginal product of labor increases.
B) value of marginal product decreases.
C) demand for labor increases.
D) demand for labor decreases.
C
Economics
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The "equality of opportunity" idea of fairness claims
A) a society should make the poorest as well off as possible. B) the results and the rules should both be fair. C) it's not fair if the rules aren't fair. D) private property can be transferred under government order. E) only a first-come, first-served system of allocating resources is fair.
Economics
The cross-price elasticity of demand measures how sensitive purchases of a specific product are to changes in
A. the price of that same product. B. the price of some other product. C. the general price level. D. income.
Economics