question and answer
September 3, 2020
Label the equilibrium that gives you the optimal level of consumption as point A. Fill in the consumer surplus in the graph.
September 3, 2020

In order to study labor markets more easily, we make which of the following assumptions about firms?

(i)

Firms sell their products in competitive markets.(ii)

Firms buy their inputs in competitive markets.(iii)

Firms maximize profits.(iv)

Firms maximize revenues.

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