Suppose That the Labor Supply Curve for a Large University

question 11

Multiple Choice

Suppose that the labor supply curve for a large university in a small town is given by w = 160 + 0.03L, where L is number of units of labor per week and w is the 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)is twice the wage rate.
• C)equals the wage rate plus $60.
• D)equals the wage rate plus $30.
• E)equals the wage rate plus $90.

Recognize the value of creativity and flexible thinking in decision-making.

Understand the concept of programmed and nonprogrammed decisions and their application in organizational contexts.

Understand the constitutional powers and limitations regarding taxation and funding.

Comprehend the specific protections and rights guaranteed by the amendments within the Bill of Rights.

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