Leadbelly co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market. assume that the market wage rate for workers is $150 per day. leadbelly should follow this rule to hire the profit-maximizing amount of labor: hire workers up to the point where the value of the marginal product is equal to $150 per day. at the profit-maximizing level of output, the marginal product of the last worker hired is 30 boxes of pencils per day.1. what is the price of a box of pencils? suppose some pencil workers switch to jobs in the growing computer industry.2. show how this change affects the pencil market by shifting the labor-demand curve, labor-supply curve, or both.

What is the main role of ctsos at the local level? at the local level, the main role of ctsos is to encourage students to become urge them to programs and competitive events.1. a.internsb.traineesc.members2.a.participateb.trainc.win

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes