Suppose that Congress caps executive pay at a level below the equilibrium.The quantity of executives demanded willOA. increase; increaseOB. increase; decreaseC. decrease; increaseOD. decrease; decreaseExecutive pay will ▼The outcome is inefficient becauseOA. there is surplus of executives and some become unemployedO B. the marginal benefit to firms exceeds the marginal cost of work to executivesOC. the marginal cost of work to executives exceeds the marginal benefit to firmsO D. government employees will move to the private sector#34the quantity of executives supplied will5O96&748Ö Suppose that Congress caps executive pay at a level below the equilibrium.The quantity of executives demanded willOA. increase; increaseOB. increase; decreaseOC. decrease; increaseO D. decrease; decreaseExecutive pay willThe outcome is ineOA. there is surOB. the marginaOC. the marginaOD. governmenrisefallсto$, the quantity of executives supplied willes and some become unemployeds exceeds the marginal cost of work to executiveso executives exceeds the marginal benefit to firmsI move to the private sector

The demand curve depicts the quantity demanded at each price level, keeping other factors of demand…

Suppose that Congress caps executive pay at a level below the equilibrium. The quantity of executives demanded will OA. increase; increase OB. increase; decrease OC. decrease; increase O D. decrease; decrease Executive pay will The outcome is inefficient because the quantity of executives supplied will

Suppose that Congress caps executive pay at a level below the equilibrium. The quantity of executives demanded will OA. increase; increase OB. increase; decrease OC. decrease; increase O D. decrease; decrease Executive pay will The outcome is inefficient because the quantity of executives supplied will

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 1SCQ: Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and...

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Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and the price at which the film can sell output in the perfectly competitive market where it operates. What is the value of the marginal product at each level of labor? If the firm operates in a perfectly competitive labor market where the going market wage is 12, what is the films profit maximizing level of employment?
Name some factors that can cause a shift in the demand curve in labor markets.
10. The Beveridge curve is an indicator of:A. The efficiency of the labor marketB. The willingness of workers to supply laborC. The demand for laborD. All of the above
1. a firm increases employment 100 to 150 hours. The quantity produced by this firm increases from 25,000 units to 35,000 units. The price remains a constant $4. Find the marginal revenu product of 150 hours of labor. a. $200 B. $233.33 C. $800 D. $933.33 2. A perfectly competitive employer will hire where a. The wage is equal to the marginal physical product. b. The wage is equal to marginal revenue product. C. The wage is equal to the price of the good. 3. An increase in worker productivity will --------, ceteris paribus. a. increase the supply of labor. b. decrease the supply of labor. c. increase the demand for labor. d. decrease the demand for labor. 4. The example in the previous question will see a. greater employment and higher wages. b. greater employment and lower wages. c. lower employment and higher wages. d. less employment and lower wages.
I need help with econ multiple hw questions asap! 108) The value of the marginal product of any input is equal to the marginal product of that input multiplied by which of the following? A. wage rate B. market price of the output C. additional revenue D. change in total profit 107) Up to what point does a competitive, profit-maximizing firm hire workers? A. where the marginal revenue product equals zero B. where the marginal product equals zero C. where the marginal product equals the wage D. where the value of the marginal product equals the wage
You have the following wage band Housekeeper $ 11-12 The band is increased by 5% What are the new wage rates for the following: Housekeeper A 11.10 Housekeeper B 11.45 Housekeeper C 11.80 New Wage Rate = (Old Wage Rate X Raise %) + Old Wage Rate
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