The labor supply curve is typically upward sloping because as the wage rate rises,
a. it will exceed the reservation wages of more individuals
b. the opportunity cost of leisure falls
c. the demand for the good produced by labor increases
d. the marginal revenue product of labor falls
e. the marginal revenue product of labor rises
A
Economics
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In the last twenty-five years, the Yen and German mark and now the Euro have
a. fluctuated widely against the dollar b. appreciated against the dollar and then depreciated against the dollar c. exchanged without restrictions d. all of the above e. none of the above
Economics
At a given rate of output, marginal cost equals the slope of the
a. long-run average cost curve b. short-run average total cost curve c. planning curve d. total cost curve e. average variable cost curve
Economics