You can find the MRP by multiplying marginal physical product by price for
A. both the perfect competitor and the imperfect competitor.
B. neither the perfect competitor nor the imperfect competitor.
C. only the perfect competitor.
D. only the imperfect competitor.
C. only the perfect competitor.
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According to the economic way of thinking, elected government officials tend to favor
A) contractionary monetary policies. B) contractionary fiscal policies. C) expansionary monetary and fiscal policies. D) monetary and fiscal policies consistent with the public interest.
The key endogenous variable in endogenous growth theory is ________
A) the level of technology B) the productivity of research and development C) the growth rate of output D) the level of per capita income
Purchasing a profitable supplier increases profit only if
a. You pay equal to the value of the company's inventory b. You pay higher than the value of the company's future profits c. You pay lower than the value of the company's discounted future profits d. You pay lower than the value of the company's undiscounted future profits
A free rider is one who enjoys the benefits of a public good without paying for it
a. True b. False Indicate whether the statement is true or false