Among the causes of an increase in labor demand is ________
A) improved availability and affordability of day care for children
B) an increase in enrollment at colleges
C) an increase in the college wage premium
D) an expansion of economic activity
D
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If ethanol production is expected to increase the price of corn, U.S. farmers will likely
A) shift the supply of corn to the left. B) shift the supply of corn to the right. C) reduce the production of corn by sliding down the corn supply curve, all else equal. D) increase the production of corn by sliding up the corn supply curve, all else equal.
If an individual's utility function is quasi-concave, his or her MRS will:
a. diminish as x is substituted for y. b. increase as x is substituted for y. c. be undefined except in special cases. d. always depend only on the ratio of x to y.