Marginal physical product can tell a producer
a. at what point to stop adding inputs to the production process.
b. how much profit will be made at each level of production.
c. how much the last input added to the total amount of revenue.
d. how much the last input added to the total amount of production.
d
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Empirical studies find that exchange rates are much more variable than inflation differentials. How can we explain this empirical result?
What will be an ideal response?
Suppose the cost of producing copper tubing is $1 per foot. If production costs were measured on the vertical axis and quantity of copper tubing were measured on the horizontal axis, which of the following lines would have the smallest slope?
a. a line representing the quantity of tubing measured in inches b. a line representing the quantity of tubing measured in feet c. a line representing the quantity of tubing measured in yards d. the 45-degree line e. any vertical line
According to fundamental analysis, when choosing stocks for your portfolio, you should prefer undervalued stocks
a. True b. False Indicate whether the statement is true or false
Which of the following is true?
A) Domestic policies are never barriers to trade. B) Tariffs and quotas in industrial nations are significantly higher now than they were in 1950. C) Tariffs and quotas are the primary trade barrier in industrialized countries. D) Domestic policies intended to protect consumers or the environment may become trade barriers.