The substitution effect of a wage increase
a. probably leads most workers to want to work more.
b. certainly leads all workers to want to work more.
c. probably leads most workers to want to work less.
d. certainly leads most firms to want to employ more workers.
a
Economics
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Suppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be represented as p = 5 - (1/2)q where p is price in $ per hour and q is hours per month. The firm faces a constant marginal cost of $1. If the firm will charge a monthly access fee plus a per hour rate, the monthly access fee will equal
A) $1. B) $5. C) $8. D) $16.
Economics
If V = 5, P = 100, and Q = 10, then M is:
a. 20. b. 10. c. 500. d. 1,000. e. 200.
Economics