Marginal Revenue Product with three units of labor would be
A. $960.
B. $540.
C. $420.
D. $340.
C. $420.
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The lowest price Jacob will accept from Harold for a bushel of corn produced in his farm is $5 . The transaction will go through if:
a. Harold's valuation is less than Jacob's. b. Harold's valuation is greater than $5. c. Jacob's opportunity cost is greater than Harold's. d. Jacob's opportunity cost is equal to Harold's.
Which of the following is least likely to reduce poverty?
A. Receiving aid from private charities or NGOs. B. Receiving foreign aid from rich donor countries. C. Redirecting resources within the poor nation away from the military. D. Raising taxes within the poor nation.
The nominal interest rate is the sum of the
A. real interest rate and the historic rate of inflation. B. real interest rate and the expected rate of inflation. C. historic rate of inflation and the expected rate of inflation. D. expected rate of inflation and the rate of price level increase.
The following linear demand specification is estimated for Conlan Enterprises, a price-setting firm:Q = a + bP +cM +dPRwhere Q is the quantity demanded of the product Conlan Enterprises sells, P is the price of that product, M is income, and PR is the price of a related product. The results of the estimation are presented below: 
For the next 2 questions suppose income remains at $10,000 but the price of the related good increases to $60 and Conlan decides to raise the price of its product to $50. At the prices and income given above, Conlan can expect to sell ________units.
A. 724 B. 872 C. 600 D. 864 E. 342