1. If the maximum number of units of cloth produced is 500 and the maximum number of units of corn produced is 1200, then with an???

????? MPLcloth= 2, the number of workers in the economy is?

2.In competitive labor markets, the wage equals:

Select one:

a.the marginal product of labor times the price of output.

b.the marginal product of labor plus the price of output.

c.the marginal product of labor.

d.the price of output.

3.

The figure below gives Home's international trading pattern. Point P is production with trade, and point C is consumption with trade. What is the international price of clothing according to the figure? Clothing C 25 P 250 300 Chemicals Select one: O a. 2 units of chemicals per unit of clothing. O b. 0.5 units of chemicals per unit of clothing. O c. 300 units of chemicals per unit of clothing. O d. Not enough information is provided to answer the