If the wage faced by the firm increases, the new amount of workers hired: a.Is determined by

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If the wage faced by the firm increases, the new amount of workers hired:

a.Is determined by the intersection of the new wage with the rising portion of the VMPL curve.

b.Is given by the intersection of the new wage with the declining region of the VMPL curve.

c.Rises

d.Remains the same.

An individual consumes only two goods, X and Y.Which of the following expressions represents the utility-maximizing market basket?

a.The slope of the utility function is zero.

b.Px/Py = money income.

c.The slope of the indifference curve = money income.

d.The slope of the indifference curve= Px/Py.

Posted Date: Jun 25, 2024 01:12 PM

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If the wage faced by the firm increases, the new amount of workers hired: a.Is determined by

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