An increase in the wage rate:
A) rotates outward the income- leisure budget constraint.
B) rotates outward the income budget constraint.
C) rotates outward the time constraint.
D) does not affect the income- leisure budget constraint.
Correct Answer:
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Q2: In a competitive market, firms value inputs:
A)the
Q3: If the marginal products of all inputs
Q4: If an input market is monopsonistic, and
Q5: A firm which is a competitor in
Q6: Consider a firm which is initially in
Q7: In long- run equilibrium, for a firm
Q8: In long- run equilibrium a firm that
Q9: The value of an input to a
Q10: As a response to a change in
Q11: Input z is the only variable input
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