Use the Information Below to Answer the Following Questions

question 49

Multiple Choice

Use the information below to answer the following questions.
Fact 18.2.1
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 18.2.1. As a result, students' marginal product ________ and 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:

Treaty Ratification

The formal approval process of a treaty by a country's legislative body, making the treaty legally binding.

Senate Vote

A formal expression of opinion or choice, either positive or negative, made by an individual senator or the collective senate body in legislative decision-making.

Signing Statements

Written comments issued by the President of the United States upon signing a bill into law, which may outline interpretation or express concerns about parts of the legislation.

Pocket Veto

A legislative maneuver where the President can effectively veto a bill by taking no action on it, when Congress is not in session.