A decrease in the wage rate
A) shifts the firm's demand for labor curve rightward.
B) shifts the firm's demand for labor curve leftward.
C) leads to a movement along the demand for labor curve but does not shift the curve.
D) None of the above answers is correct.
C
Economics
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The fact that total wealth is fixed at any point in time is referred to as the
a. budget constraint. b. wealth constraint. c. wealth effect. d. hard asset effect. e. income effect.
Economics
Refer to the data. The marginal cost column reflects:
A. the law of diminishing returns.
B. the law of diminishing marginal utility.
C. diseconomies of scale.
D. economies of scale.
Economics