The official dividing line between the poor and nonpoor is called the

A. life threshold.
B. life edge.
C. poverty line.
D. beginning line.

Answer: C

Economics

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Suppose the marginal product of labor equals 1/L. If the firm can sell its output for $10 per unit, and the wage is $1 per unit, how many units of labor will the firm hire?

A) 0 B) 1 C) 10 D) 100

Economics

Figure 5-8


In Figure 5-8, the consumer is indifferent between the combinations of beer and wine coolers indicated by points

a.
A, C.

b.
B, D.

c.
C, B.

d.
A, B.

Economics