A firm's demand curve for labor is equal to the
A) total revenue product.
B) marginal revenue product.
C) marginal factor cost.
D) marginal wage.
B
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The imaginary figure who advises us whether society is making the most of its scarce resources is the
A) opportunity-cost pixie. B) benevolent social planner. C) scarcity goddess. D) compassionate dictator.
Suppose that the production function is Y = AK0.35L0.65, the number of workers equals 800, the capital stock is $150,000, and real GDP is $750,000. What is the value of total factor productivity?
What will be an ideal response?
The most important source of financial capital for firms today is
A) sale of bonds. B) sale of new issues of stock. C) trade of previously issued stock. D) reinvestment of profits.
In a market, buyers want to pay the ________ possible price and sellers want to charge the ________ possible price.
A. highest, highest B. highest, lowest C. lowest, lowest D. lowest, highest