Use the Information Below to Answer the Following Questions

question 60

Multiple Choice

Use the information below to answer the following questions.
Fact 17.2.1
Wanda's is a fish store that hires students to pack the fish.The fish market is competitive.Originally the price is 50¢ a kilogram.The market for packers is competitive and their market wage rate is $7.50 an hour.Then the market price of fish falls to 33.33¢ a kilogram but the wage rate of fish packers remains at $7.50 an hour.
-Refer to Fact 17.2.1.As a result,the students' marginal product ________ and the students' value of marginal product ________.

• A)decreases;does not change
• B)does not change;does not change
• C)decreases;decreases
• D)does not change;decreases
• E)decreases;increases

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Definitions:

Fraudulent Misrepresentation

False statements or claims made deceitfully to induce another party into a contract, leading to harm or loss.

Undue Influence

Excessive pressure or influence applied by one individual over another to force actions or decisions unjustly.

Foreclosure

A court process ending the mortgagor’s right to redeem.

Void

A term describing a contract or legal agreement that is invalid or unenforceable from the outset, having no legal effect.