If the government levies a $5 tax per ticket on buyers of NFL game tickets, then the price paid by buyers of NFL game tickets would
a. increase by less than $5.
b. increase by exactly $5.
c. increase by more than $5.
d. decrease by an indeterminate amount.
a
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If the marginal revenue product of the fifth worker hired by a firm is $15 and the price of a unit of output is $5 regardless of how much is sold, then the marginal product of the fifth worker is
a. 15 units of output b. 5 units of output c. 3 units of output d. 45 units of output e. 75 units of output
Monopsonists tend to exploit the resources as they are the sole employers of the resources
a. True b. False Indicate whether the statement is true or false
An increase in capital increases productivity only if it is purchased and operated by domestic residents
a. True b. False Indicate whether the statement is true or false
Private entrepreneurs are likely to make better investment decisions than central planners because
What will be an ideal response?