The marginal revenue product of a resource is equal to the value of marginal product when the product produced by the resource is sold in
a. a competitive price-taker market.
b. a competitive price-searcher market.
c. an oligopolistic market.
d. a monopolistic industry.
A
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One of the implications of new growth theory is that economic growth arises from
A) financial safety nets for the poor, such as Medicaid. B) investments in knowledge. C) reductions in the birth rate. D) limits on international trade.
Assume Mimi's budget constraint is shown in the graph shown. If earrings cost $7, then hairbands must cost:
A. $5.25. B. $7. C. $4. D. $3.50.
Refer to the data provided in Table 9.3 below to answer the following question(s). Table 9.3qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43Refer to Table 9.3. If the market price is $84, then in the long run the firm will
A. operate and expand. B. operate but not expand. C. shut down, but not go out of business. D. go out of business.
Are all externalities negative? Explain
What will be an ideal response?