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Which of the following would cause the demand curve for Pepsi to shift to the right? A) an increase in the price of Coke (which is a substitute for Pepsi), while holding the price of Pepsi constant

Which of the following would cause the demand curve for Pepsi to shift to the right? A) an increase in the price of Coke (which is a substitute for Pepsi), while holding the price of Pepsi constant B) a change in the price of Pepsi C) a decrease in the price of Coke (which is a substitute for Pepsi), while holding the price of Pepsi constant OD) the discovery of a new bottling technology that allows for an increase in Pepsi production 1
Question 16 (1 point) If a firm hires to the point where the marginal expense of labour is greater than the marginal revenue product, then O profits could be increased by increasing employment O profits could be increased by reducing employment O profits are maximized none of the above Question 17 (1 point) The labour market is different from the product market because OA) in the labour market, firms don't maximize profit OB) in the labour market, households don't maximize utility C) in the labour market, firms are demanders and households are suppliers D) supply and demand do not apply in the labour market
Question 19 (1 point) Suppose that Burger King begins paying its drive-thru clerks $7 an hour, while McDonald's is paying its drive-thru clerks $6.50 an hour. The jobs are alike in all other respects. We would expect A) an increase in the supply of drive-thru clerks at Burger King B) a decrease in the demand of drive-thru clerks at McDonald's C) a decrease in the supply of drive-thru clerks at Burger King D) an increase in the supply of drive-thru clerks at McDonald's Question 20 (1 point) The marginal product of labour is A) the total revenue produced by all units of labour, other things constant B) the total output produced by all units of labour, other things constant o the additional output produced by one additional unit of labour, other things constant D) the total output divided by the number of units of labour employed

Question 15 (1 point) Which of the following would cause the demand curve for Pepsi to shift to the right? A) an increase in

 

Question 16 (1 point) If a firm hires to the point where the marginal expense of labour is greater than the marginal revenue

 

Question 19 (1 point) Suppose that Burger King begins paying its drive-thru clerks $7 an hour, while McDonalds is paying its

Apr 16 2021 View more View Less

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