Suppose That the Labor Supply Curve for a Large University

question 12

Multiple Choice

Suppose that the labor supply curve for a large university in a small town is given by w = 160 + 0.05L, where L is number of units of labor per week and w is he weekly wage paid per unit of labor.If the university is currently hiring 1,000 units of labor per week, the marginal cost of an additional unit of labor

• A)equals the wage rate.
• B)equals the wage rate plus $50.
• C)is twice the wage rate.
• D)equals the wage rate plus $100.
• E)equals the wage rate plus $150.

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Definitions:

Asymmetric Carbon

A carbon atom that is attached to four different types of atoms or groups, resulting in chirality and optical activity in the molecule.

Conformational Isomers

Molecules that have the same molecular formula but differ in the orientation of their atoms in space due to rotation around single bonds.

Constitutional Isomers

Compounds that have the same molecular formula but differ in the connectivity of their atoms, leading to different physical and chemical properties.

Diastereomers

Stereoisomers that are not mirror images of each other, containing two or more stereocenters.