If the real wage is equal to 8 widgets, and only an integer number of workers can be hired, the Gizmo company should hire
A) 2 workers.
B) 3 workers.
C) 4 workers.
D) 5 workers.
A
Economics
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Markets may fail to allocate resources efficiently when property rights are not well established
a. True b. False Indicate whether the statement is true or false
Economics
In answering the question, assume a graph in which dollars are measured on the vertical axis and output on the horizontal axis. Refer to the information. For a purely competitive firm, marginal revenue graphs as a:
A. straight, upsloping line. B. straight line, parallel to the vertical axis. C. straight line, parallel to the horizontal axis. D. straight, downsloping line.
Economics