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Select the correct response: As the demand for calculators decreases, the price of calculators actually rose. As the Firm hires additional works, each worker adds less to total output than the worker hired just before him. O A Firm lowers its health insurance costs as it increases in size because as the size of the group insured increases, the premium per person decreases substantially. As the computer industry expands, the demand for professionally trained computer programmers also increases, which causes the salaries of computer programmers to increase.

Select the correct response: As the demand for calculators decreases, the price of calculators actually rose. As the Firm hires additional works, each worker adds less to total output than the worker hired just before him. O A Firm lowers its health insurance costs as it increases in size because as the size of the group insured increases, the premium per person decreases substantially. As the computer industry expands, the demand for professionally trained computer programmers also increases, which causes the salaries of computer programmers to increase.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter14: Labor Markets And Income
Section: Chapter Questions
Problem 9SCQ: Explain i11each of the following situations how market forces might give a business an incentive to...
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May i know the correct ans from 6-8. Thank you

6. Which of the following is an example of diseconomies scale Select the correct response: As the demand for calculators decreases, the price of calculators actually rose. o As the Firm hires additional works, each worker adds less to total output than the worker hired just before him. A Firm lowers its health insurance costs as it increases in size because as the size of the group insured increases, the premium per person decreases substantially. As the computer industry expands, the demand for professionally trained computer programmers also increases, which causes the salaries of computer programmers to increase. 7. The firm is currently along isocost CE. If the price of capital is 30, then the price of labor i 60 WRONG ANS 80 60 A BD LE 60 80 Units of labor 120 8. Tom borrowed Php500,000 from her parents to open a spa. He pays her parents a 5% yearly return on the money they lent her. Her other yearly fixed costs equal Php150,000 and his variable costs equal Php200,000. In her first year, Tom had a total of 2,000 customers at a price of Php300/customer. Tom's total economic profit is ? Units of capital
Transcribed Image Text:6. Which of the following is an example of diseconomies scale Select the correct response: As the demand for calculators decreases, the price of calculators actually rose. o As the Firm hires additional works, each worker adds less to total output than the worker hired just before him. A Firm lowers its health insurance costs as it increases in size because as the size of the group insured increases, the premium per person decreases substantially. As the computer industry expands, the demand for professionally trained computer programmers also increases, which causes the salaries of computer programmers to increase. 7. The firm is currently along isocost CE. If the price of capital is 30, then the price of labor i 60 WRONG ANS 80 60 A BD LE 60 80 Units of labor 120 8. Tom borrowed Php500,000 from her parents to open a spa. He pays her parents a 5% yearly return on the money they lent her. Her other yearly fixed costs equal Php150,000 and his variable costs equal Php200,000. In her first year, Tom had a total of 2,000 customers at a price of Php300/customer. Tom's total economic profit is ? Units of capital
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