If this firm were a perfect competitor selling its entire output at a price of $1, the marginal revenue product of the third unit of input would be
A. $0.
B. $1.
C. $2.
D. $3.
D. $3.
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The marginal propensity to save is defined as:
A) ?C/?Yd. B) ?S/?Yd. C) ?Yd/?C. D) ?Yd/?S.
In one sense ________ appears surprising since it means that the bank is not ________ its portfolio of loans and thus is exposing itself to more risk
A) specialization in lending; diversifying B) specialization in lending; rationing C) credit rationing; diversifying D) screening; rationing
The practice of dividing packages of debts into slices, each with different risk and return characteristics, is called:
A. leveraging. B. bundling. C. pooling. D. tranching.
Your roommate has the right to play her harmonica during the day. But you find the best time to study is during the day, and the harmonica playing makes it hard for you to concentrate. You tell your roommate that you will do her laundry every week if she does not play the harmonica during the day and she agrees to this. This is an example of
A. an injunction. B. liability rules. C. the Coase theorem. D. the drop-in-the-bucket problem.