When dealing with the demand for inputs
A) substitution and output effects work in opposite directions for substitutes
B) substitution and output effects always work in the same direction
C) substitution output effects work in opposite directions for compliments
D) substitution output effects work in opposite directions for inferior goods
Correct Answer:
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Q28: When the average product for labour exceeds
Q29: If a firm is a monopolist in
Q30: the own price elasticity of demand for
Q31: If the input market is competitive and
Q32: Investment in training is called:
A)human capital.
B)foregone income.
C)current
Q34: The dead weight loss of a monopsonist
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Q36: The demand for labour:
A)is not the result
Q37: Firms will hire labor up to the
Q38: In general, the supply functions of intermediate
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