Suppose that in November a profit-maximizing firm has 100 employees. By December, the firm has decreased employment. One can infer that, when 100 employees are hired, the
a. firm is losing market share.
b. firm is minimizing losses.
c. wage exceeds the value of the marginal product of labor.
d. value of the marginal product of labor exceeds the wage.
c
Economics
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A financial institution that accepts deposits and makes loans is generally referred to as a(n)
A) central bank. B) commercial bank. C) monetary authority. D) investment bank.
Economics
The situation in which a person places greater value on a good as fewer and fewer people possess it is called the
A) Bandwagon Effect. B) Greater Value Effect. C) Snob Effect. D) Behavioral Effect.
Economics