In the above figure, the marginal revenue product is represented by line
A) "a."
B) "b."
C) "c."
D) "d."
B
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The method of estimating long-run costs in which knowledgeable professionals familiar with production facilities and processes calculate optimal combination of inputs to produce given quantities and then estimate costs is known as
A) engineering cost estimating. B) the survivorship method. C) regression analysis. D) None of the above
Small, developing countries must first become self-sufficient before they can benefit from international trade
a. True b. False Indicate whether the statement is true or false
The United States is the world's leading grain-producing nation. Exporting U.S. grain causes the
a. domestic consumption of grain to rise because of the added foreign demand. b. price of grain in the domestic market to fall because foreigners are now taking some of the domestic demand. c. price of grain to domestic consumers to rise because of the added foreign demand. d. standard of living of foreigners to fall because they lose purchasing power.
Any transaction that causes foreign exchange to enter a country is a
A. debit item in that country's balance of payments. B. debit item in that country's balance of trade. C. credit item in that country's balance of payments. D. credit item in that country's balance of trade.