Exhibit 11-5 Sally\'s labor supply data In Exhibit 11-7, which of the following

ID: 2494398 • Letter: E

Question

Exhibit 11-5 Sally's labor supply data

In Exhibit 11-7, which of the following could have caused the shift in labor demand from D1 to D2?

Select one:

a. Increase in the demand for the product.

b. Decrease in demand for the product.

c. Decrease in wages.

d. Increase in wages.

e. Decrease in price of product.

Union membership as a percentage of the civilian labor force is lower in the United States than in Germany or Japan.

Select one:

True

False

If a monopsonist offers a wage of $6, he finds that 1,200 people are willing to work for him. This means that the:

Select one:

a. total wage cost is $7,200.

b. $6 wage is too high.

c. marginal factor cost is $200.

d. total wage cost is $1,200.

e. marginal factor cost is $6.

Wage Quantity of
Labor Supplied (hours) $ 0 0 5 20 10 30 50 40 100 35

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