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Economics Homework Six - Model (view source)

Revision as of 20:20, October 28, 2009

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:Marginal cost of labor. (Duncan)
 
:Marginal cost of labor. (Duncan)
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:The wage rate, which is the marginal cost of labor.  Match the marginal product of labor to the marginal cost of that same input, which is labor (Instructor)
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:The wage rate, which is the marginal cost of labor.  Match the marginal product of labor to the marginal cost of that same input, which is labor. (Instructor)
    
10.  Explain the following from the lecture: if inflation is 10% per year for three years, but one particular good keeps the same price during those three years, then its opportunity cost and real price actually decreased.
 
10.  Explain the following from the lecture: if inflation is 10% per year for three years, but one particular good keeps the same price during those three years, then its opportunity cost and real price actually decreased.
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