In the indifference curve-budget line model of labor supply, labor consists of
a. all productive activities outside of the marketplace.
b. working in the marketplace for the going wage.
c. engaging in productive activities, whether in the marketplace or not.
d. working in the marketplace for the going wage and entrepreneurial activities.
b. working in the marketplace for the going wage.
Economics
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In short run equilibrium in a perfectly competitive industry whose firms are earning economic profits, a firm: a. has no incentive to change its output
b. has no incentive to change its plant size. c. has no incentive to expand its factory. d. has no incentive to leave the industry.
Economics
The concept of network externalities is most relevant to purchasers of
a. computer software. b. automobiles. c. television sets. d. radios.
Economics