The figure above shows a local lawn cutting service's demand for labor curve when the price of cutting an acre of lawn is $50 per acre. If the price of lawn cutting rises to $60 per acre of lawn cut, the firm's demand for labor curve
A) shifts rightward.
B) shifts leftward.
C) does not shift at all, but the firm moves upward along the curve.
D) None of the above because this change shifts the supply of labor curve.
A
Economics
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Monetary policy goals include
i. maximum employment. ii. stable prices. iii. moderate long-term interest rates. A) i only B) ii only C) i and iii only D) i and ii only E) i, ii, and iii
Economics
In long-run perfectly competitive equilibrium, which of the following is false?
A) There is efficient, low-cost production at the minimum efficient scale. B) Economies of scale are exhausted. C) Economic surplus is maximized. D) Firms earn economic profit.
Economics