The marginal rate of technical substitution is equal to the
A) slope of the total product curve.
B) change in output minus the change in labor.
C) change in output divided by the change in labor.
D) ratio of the marginal products of the inputs.
D
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Explain the factors that influence the ultimate burden of the corporate income tax. What conclusion did Arnold Harberger draw about the incidence of the corporate income tax?
What will be an ideal response?
Many theme parks charge an entrance fee and a per-ride fee equal to zero. This is an example of
A) bundling. B) a two-tier tariff. C) multimarket price discrimination. D) perfect price discrimination.
If a union negotiates a wage above the market equilibrium, each firm's
a. supply of labor is greater than its marginal resource cost b. supply of labor is less than its marginal resource cost c. supply of labor is equal to its marginal resource cost d. demand for labor is less than its marginal resource cost e. demand for labor is greater than its marginal resource cost
Figure 10.4 Federal Surplus or Deficit as a Percent of GDP
What will be an ideal response?