The downward sloping marginal revenue product of labor is
A. another term for the marginal revenue product of labor.
B. the firm's short-run demand for labor.
C. the firm's supply of labor.
D. the firm's marginal cost of labor.
Answer: B
You might also like to view...
If the demand for baseballs falls and all other relevant factors remain unchanged, then,
a. the supply for baseballs will fall. b. the quantity supplied of baseballs will fall. c. the supply for baseballs will rise. d. the quantity supplied of baseballs will rise.
A default in the past makes it much more likely that a government will default again, even if the current government is a new regime with every intention of honoring its debts. Why might that be?
What will be an ideal response?
Mountain bikers and rollerbladers share the only trail in a city park. The city allows everybody into the park and onto the trail. The mountain bikers say the rollerbladers are a hazard to them; the rollerbladers say it's the other way around. Frequently there are collisions and many injuries occur. Which of the following ways of dealing with the problem does not implicitly grant someone a
property right? a. Allow bikers to use the trail on odd-numbered days and rollerbladers to use it on even-numbered days. b. Allow bikers to use the trail in the morning and rollerbladers to use it in the afternoon. c. Allow only bikers in the park because they have invested in the more expensive sports equipment. d. Kick everybody out of the park. e. Build another trail, put rollerbladers on one and bikers on the other, and give bikers the right-of-way at intersections.
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources
What will be an ideal response?