Principles of Microeconomics Homework #4

Principles of Microeconomics Homework #4 - Homework #4 2011...

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Homework #4 Due April 19 th , 2011 1. Which is an example of a change in product demand that increases labor demand? A. Access to computers increases the productivity of mail order businesses, thus increasing the demand for their workers B. Tourism increases in popularity, increasing the demand for workers at tourist resorts C. A decrease in the price of trucks decreases the cost of transporting goods, thus increasing the demand for truckers D. A change in work rules increases output per worker in the auto industry, thus increasing the demand for auto workers 2. To achieve an optimal factor mix for its current output the firm should employ more: A. A and B and less C B. A and B and C C. A and C and less B D. B and less A and C 3. Assume there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pay for it. This characteristic is associated with: A. Rival goods B. Complementary goods C. Public goods D. Capital goods
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4. If a good that generates negative externalities were priced to take into account these
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This note was uploaded on 04/03/2011 for the course ECO 2252 taught by Professor Edward during the Spring '08 term at Troy.

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Principles of Microeconomics Homework #4 - Homework #4 2011...

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