If the market for labor is perfectly competitive, the wage rate for labor equals:
A) the average cost of hiring labor.
B) the value of the marginal product of labor.
C) the marginal product of the last unit of labor employed.
D) the price of the product that the firm produces using the labor services.
B
Economics
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According to your textbook, expansionary monetary policy
A) encourages entrepreneurs to invest in projects that only appear profitable. B) creates a temporary "boom," or economic expansion. C) will ultimately be followed by a "bust," as entrepreneurs learn of their forecasting errors. D) tends to generate all of the above.
Economics
List three possible problems that could occur when undertaking cost-benefit analysis
What will be an ideal response?
Economics