If the MRP of labor decreases, labor
a. demand will decrease
b. demand will increase
c. supply will increase
d. supply will decrease
e. demand and supply will be unaffected
A
Economics
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According to Fishlow's (1972) work, the U.S. railroads before the Civil War were typically built "ahead of demand" by private capital
Indicate whether the statement is true or false
Economics
Tampering with the price mechanism
a. can be efficient for a while. b. cannot be attempted in a market economy. c. can enhance societal welfare if done properly. d. often produces undesired side effects.
Economics