Refer to the below table. The marginal revenue product of the third unit of resource is:
A. $4
B. $8
C. $18
D. $72
C. $18
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In the foreign exchange market, the supply curve of dollars is
A) vertical. B) downward sloping. C) identical to the demand curve for dollars. D) upward sloping. E) horizontal.
If a tax is imposed per unit of a good sold, ________
A) the supply curve for the good shifts to the right B) the supply curve for the good shifts to the left C) the demand curve for the good shifts to the right D) the demand curve for the good shifts to the left
Other things remaining the same, the ________ the exchange rate for dollars, the greater the ________ in the foreign exchange market
A) higher; quantity of dollars supplied B) higher; quantity of dollars demanded C) lower; value of U.S. imports D) higher; expected profits from holding dollars
All the factors below are causes of diminishing marginal returns, except
a. Difficulty of monitoring and motivating larger workforces b. Increasing complexity of larger systems c. Specialization and division of Labor d. The "fixity' of some factor