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The value produced by two workers is $35. If there are three workers it is $45, and if there are four workers it is $51. Which statement is most accurate? a. The workers are achieving allocation efficiency. O b. There are diminishing marginal resource costs. c. There is diminishing marginal revenue product of labour. O d. The workers are facing a backward bending supply curve.What will happen in the demand and supply for machine assembly line workers if there is a decrease in the number of hours people are willing to work? O a. labour supply will shift to the right O b. labour demand will shift to the left O c. labour demand will shift to the right O d. labour supply will shift to the leftWhat does the income effect indicate about the effect of a higher wage rate on leisure and the quantity of labour supplied? O a. At a higher wage rate, the quantity of labour supplied decreases because leisure is considered a normal good O b. At a higher wage rate, the quantity of labour supplied decreases because leisure is considered an inferior good. O c. At a higher wage rate, the quantity of labour supplied increases because leisure is considered an inferior good. O d. At a higher wage rate, the quantity of labour supplied increases because leisure is considered a normal good.In the Nanaimo coalfields in British Columbia in the 1870s, miners of Chinese descent received lower wages than miners of British descent. Although the wages of both groups tended to rise over time, the gap persisted until after WWI. Both groups of miners did the same work and were equally productive. What do economists call this pay differential? O a. prejudicial differentials O b. compensating differentials O c. wage discrimination O d. job-entry discriminationWhich of the following government programs is most likely to reduce poverty? a. transferring income from the richest to the poorest citizens O b. providing incentives to increase the level of capital formation O c. providing university scholarships to the country's smartest students O d. promoting economic growth\fWhat is the most likely outcome when trying to eliminate pollution? O) a. Firms will increase output in the short run. O b. Public opinion will matter more to firms than profit maximization. O) c. Abatement will be subject to diminishing average cost. O d. Abatement will exhibit diminishing returns.What is a monopsony? O a. a market with only one buyer O b. a market with only one seller () c. a market with only one buyer and only one seller O d. a union market that represents only one type of workerWhich of the following activities represents an external cost? O a. the pollination of apple trees that occurs when a beekeeper locates next door to an apple orchard O b. the pollution runoff into rivers and lakes from farms O c. the increase in property values of vacant lots in an area near where a new provincial park has been commissioned O d. the benefits that accrue to society when an individual receives a postsecondary educationFigure 12-5 MSC Quantimmo mu Refer to Figure 12 5. which represents the market for pulp. The production of pulp creates dioxin emissions. What is the externalityper thousand tonnes of pulp