Assume labor is the only variable input and that an additional input of labor increases total output from 72 to 78 units. If the product sells for $6 per unit in a purely competitive market, the MRP of this additional worker is
A. $72.
B. $12.
C. $36.
D. $6.
Answer: C
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To encourage economic development a country should do all of the following EXCEPT
A) establish a system of property rights. B) allow creative destruction to run its course. C) limit the amount of imports allowed into the country. D) invest in human capital.
Everything else held constant, when stock prices become less volatile, the demand curve for bonds shifts to the ________ and the interest rate ________
A) right; rises B) right; falls C) left; falls D) left; rises
All of the following are examples of illegal per se activities except which one?
A) output restrictions B) bid rigging C) market division D) resale price maintenance
Empowerment may be a problem because
A. managers are usually ambiguous when it comes to empowerment. B. managers are usually very eager to empower those who are least qualified. C. managers are never eager to empower anyone else except themselves. D. workers are always eager to empower themselves even if they are unqualified.