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:

Primarily Liable

A legal term describing the party who bears the main responsibility in the fulfillment of an obligation or the payment of a debt.

Artisan Lien

A legal right granted to craftsmen or laborers to retain possession of a client's property until payment is received for services rendered.

Entrusted

Pertains to the act of giving someone the responsibility to take care of something or to carry out a task or duty.

Subcontractor

An individual or business that signs a contract to perform part or all of the obligations of another's contract.