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.

---

Definitions:

Key Information

Essential or crucial data or facts that are important for decision-making, understanding a situation, or solving a problem.

Identify And Reply

The process of recognizing a message or request and providing a corresponding response.

Body Language

Involves the use of physical behavior, expressions, and mannerisms to communicate nonverbally, often reflecting the speaker’s feelings and attitudes.

Face-To-Face Communication

direct interaction between individuals that occurs in person, allowing for immediate feedback.