Refer to the graph. Other things equal, an increase in labor productivity would cause a:
A. move from a to b on D 1 .
B. shift from D 2 to D 3 .
C. shift from D 3 to D 2 .
D. move from b to a on D 1 .
B. shift from D 2 to D 3 .
Economics
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Refer to the table above. Suppose that the only variable input that the firm uses is labor. What is the wage paid to a worker in the firm?
A) $1 B) $5 C) $10 D) $15
Economics
Suppose that flu shots create a positive externality equal to $12 per shot. What is the relationship between the equilibrium quantity and the socially optimal quantity of flu shots produced?
a. They are equal. b. The equilibrium quantity is greater than the socially optimal quantity. c. The equilibrium quantity is less than the socially optimal quantity. d. There is not enough information to answer the question.
Economics