Li works for a wage of $9 per hour. He has 50 hours to devote to work or leisure. If his wage rises to $11 per hour, _____
a. he will spend more time working because his opportunity cost of leisure will rise
b. he will spend less time working because his opportunity cost of leisure will rise
c. he will spend less time working because his opportunity cost of leisure will fall
d. he will spend more time working because his opportunity cost of labor will rise
a
Economics
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When the market for gasoline in Motorland is in equilibrium, the market price of gasoline is ________ the marginal social cost
A) $1.50 above B) $1.50 below C) equal to D) $1.20 above
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