Suppose the marginal product of the second worker hired by a firm is 3, and the price of the last unit produced is $7 . Which of the following is true of the marginal revenue product of the second worker?
a. It must equal $21.
b. It must be less than or equal to $21.
c. It must be greater than or equal to $21.
d. It equals $21 only if the firm is a price searcher (e.g., monopoly).
e. We can conclude nothing about marginal revenue product.
B
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The SAS curve shifts if there is a change in
A) the price level. B) real GDP. C) nominal GDP. D) potential GDP.
Which of the following statements about competition in a market is true?
A) Competition forces firms to produce and sell products as long as the marginal benefit to consumers exceeds the marginal cost of production. B) Competition forces firms to undercut their selling price, thus benefiting consumers who will be able to purchase products at the lowest price possible. C) Competition forces firms to add only low profit margins to their costs of production. D) Competition forces firms to outsource the production of their labor-intensive products.
The most likely way the public debt burdens future generations, if at all, is by:
A. reducing the current level of investment. B. reducing real interest rates. C. causing deflation. D. causing future unemployment.
Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. A soybean farmer's ________ level of output is 1,000 units of output.
A. loss-minimizing B. break-even C. shut-down D. profit-maximizing