In the Short-Run with Fixed Wages,the SAS Curve Is Positively

question 89

Multiple Choice

In the short-run with fixed wages,the SAS curve is positively sloped because

• A)the marginal product of labor declines,marginal costs rise.
• B)the marginal product of labor increases,marginal costs rise.
• C)marginal cost equals price and marginal costs decline.
• D)None of the above.

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Definitions:

Low-ball Technique

A persuasion and sales strategy where an initial, lower price is offered to gain agreement from a buyer, only to increase the price by introducing additional costs or factors.

Social Loafing

A phenomenon observed in group settings wherein individuals put in less effort on a task when working collectively compared to when working individually.

Social Loafing

The phenomenon where individuals exert less effort when working in a group than when working alone.

Philip Zimbardo

An American psychologist known for his research on social influence and the dynamics of time perspective, notably leading the Stanford prison experiment.