What determines how much labor a household will supply?
What will be an ideal response?
Households will supply labor as long as the wage they receive exceeds the value of leisure or the value from unpaid work.
Economics
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On Nov 5 2015, the DJIA was closest to
a. 18 b. 180 c. 1800 d. 18000
Economics
To maximize profits in the short run, a perfectly competitive firm will produce the output at which:
a. marginal revenue equals demand. b. price equals marginal revenue. c. price equals marginal cost. d. marginal revenue equals average total cost. e. total revenue equals total cost.
Economics