The marginal revenue product curve is:
a. c and d are correct.
b. c and e are correct.
c. given by the marginal product curve multiplied by the price of the good.
d. the marginal contribution of an additional worker to firm's revenues.
e. the change in total cost that results from employing an additional worker.
a
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A chief purpose of long-term contracts is to improve agents'
A) information. B) incentives. C) control over principals. D) security.
The euro floats against other currencies, but the member nations of the euro have no separate national money. For this reason, Spain, that uses the euro as its currency is listed under the managed float arrangement
a. True b. False Indicate whether the statement is true or false
Now, about ____ percent of American married-couple families have two or more wage earners
a. 35 b. 50 c. 60 d. 90
A firm sells a product in a perfectly competitive market. The marginal cost of the product at the current output level of 1,000 units is $2.50. The minimum possible average variable cost is $2. The market price of the product is $2.50. To maximize profits, the firm should
A. increase production to more than 1,000 units. B. decrease production to less than 1,000 units. C. continue producing 1,000 units. D. shut down.