A Firm Faces Competitive Markets for Its Inputs and Its

question 46

Multiple Choice

A firm faces competitive markets for its inputs and its output.At the profit-maximizing level of output,its marginal cost is $10 and the wage paid is $2.If the MPL = L^-0.5,how many workers will be hired by the firm?

• A) 35
• B) 40
• C) 25
• D) 5

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Definitions:

Short-Term Memory

The capacity for holding a small amount of information in mind in an active, readily available state for a short period of time.

Capacity

The maximum amount that something can contain or the ability of something, whether physical or mental, to perform, produce, or withstand.

Atkinson-Shiffrin Model

A theory of human memory that proposes memory is composed of three main components: sensory memory, short-term memory, and long-term memory.

Stages Of Memory

The three primary stages through which information passes to be stored as long-term memory: encoding, storage, and retrieval.