Marginal revenue product is measured by
a. MR × price of the good
b. MR × MC
c. TR / MPP
d. MPP × price of the good
e. TC / MPP
D
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Refer to the above table. At what quantity of labor does the law of diminishing marginal product set in ?
a. after 2 units b. after 6 units c. after 3 units d. after 1 unit
When personal computers were first produced, the price was very high. As time passed, the price of personal computers fell because
A) the initial price was too high and nobody bought personal computers. B) people's incomes increased and personal computers are an inferior good. C) the demand for personal computers decreased. D) there were technological advances in the production of personal computers. E) None of the above answers is correct.
Explain what happens to the world real interest rate if the government of Panama runs a large government budget deficit
What will be an ideal response?
The rate-of-return regulated public utility can have incentive to price some services too high and others too low, relative to efficient prices
Indicate whether the statement is true or false