Suppose there are 100 firms in a market and all are identical. Firm A will hire 20 workers when the wage rate is $10, 25 workers when the wage rate is $9, and 30 workers when the wage rate is $8
The equilibrium wage rate for a number of years has been $9. If the wage rate falls to $8, we know that A) the quantity demanded for the market will increase to 3,000 workers.
B) the quantity demanded for the market will increase to more than 3,000 workers.
C) the quantity demanded for the market will increase to less than 3,000 workers.
D) the quantity demanded for the market will increase, but we can't tell which of the above answers is correct.
A
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Governments can prevent the overuse of private goods by assigning property rights
a. True b. False Indicate whether the statement is true or false
Assuming bottled water and cola are substitutes, if the price of bottled water rises
A. the demand curve for cola will shift to the right. B. there is a movement along the demand curve for cola. C. the demand curve for bottled water will shift to the right. D. the demand curve for bottled water will shift to the left.