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-In Exhibit P-7, Suppose the Firm Is in Equilibrium and That

Question 10

Multiple Choice

-In Exhibit P-7, suppose the firm is in equilibrium and that the MRP of the last worker hired is $15. Suppose now that the price of the Golden Goat Game triples. What happensto the wage rate? A) It increases from $10 to $15. B) It decreases from $15 to $10. C) It increases from $10 to $25. D) It decreases from $25 to $10. E) It increases from $15 to $45.
-In Exhibit P-7, suppose the firm is in equilibrium and that the MRP of the last worker hired is $15. Suppose now that the price of the Golden Goat Game triples. What happensto the wage rate?


A) It increases from $10 to $15.
B) It decreases from $15 to $10.
C) It increases from $10 to $25.
D) It decreases from $25 to $10.
E) It increases from $15 to $45.

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