PLEASE HELP

1.

(05.01 MC) Suppliers of factors of production in a perfectly competitive market respond to higher factor prices by ________ of their factors, ceteris paribus. (3 points)

	changing the quality
I THINK IT IS THIS ONE	increasing the productivity
	decreasing the productivity
	increasing the quantity available
	decreasing the quantity available

2.

(05.01 MC) The quantity of labor demanded is ________ related to the wage rate, while the quantity of labor supplied is ________ related to the wage rate, ceteris paribus. (3 points)

	positively; positively
I THINK IT IS THIS ONE	negatively; positively
	positively; negatively
	negatively; negatively
	negatively; not

3.

(05.01 MC) The number of units of output that a machine will produce increases, ceteris paribus. How will this change in productivity affect demand for the machine? (3 points)

I THINK IT IS THIS ONE	Demand for the machine will increase.
	Demand for the machine will decrease.
	There will be no change in demand for the machine.
	Demand will not change, but quantity demanded will decrease.
	Demand will not change, but quantity demanded will increase.

4.

(05.01 MC) Use the graph to answer the question that follows. (3 points)

30 25 20 15 Marginal Product 10 5 5 2 3 4 6 7 8 9 10 Labor 10\fTelecommunications Industry Wage Rate ($) DI Quantity (labor)