If there is a decrease in the price of the final good that an industry produces, the labor demand curve in the industry is likely to:
A) shift to the left.
B) shift to the right.
C) become vertical.
D) become horizontal.
A
Economics
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An attempt should always be made to maximize opportunity cost.
a. true b. false
Economics
The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a lobster dinner increased?
A) It would rotate inward around the vertical intercept, 10 lobster dinners. B) It would rotate outward around the vertical intercept, 10 lobster dinners. C) It would rotate inward around the horizontal intercept, 20 steak dinners. D) It would rotate outward around the horizontal intercept, 20 steak dinners.
Economics