Which statement is false?
A. The concept of margin, or marginal is central to economic analysis.
B. Productivity is measured by output per unit of input.
C. MRP declines as more and more units of a factor are used.
D. None of the statements are false.
D. None of the statements are false.
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The firm becomes the dominant organization type whenever
a. markets exist b. markets don't exist c. the net value of centralized, organized production exceeds the net value of market-arranged production d. the net value of market-arranged production exceeds the net value of centralized, organized production e. private enterprise eliminates shirking
The existence of a liquidity trap implies that
A) a decrease in the interest rate might not increase investment spending. B) an increase in the demand for money will be followed by an equal increase in the supply of money. C) an increase in the supply of money may not lower interest rates. D) a and c
If MFC < MRPL, the firm should
A) hire more workers. B) lower wages. C) get rid of some capital. D) reduce the number of workers.
Purchasing a smart phone data plan, premium movie channels, and University of Alabama football season tickets results in you having to drop your health insurance plan. This can be described as:
A. home field advantage B. healthy living C. irrational decision making D. a trade-off