The ________ is the additional revenue a firm earns by employing one additional unit of labor.
A. marginal labor cost
B. per-worker net profit
C. average labor revenue
D. marginal revenue product of labor
Answer: D
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When a slice of pizza at the student union sold for $2, Moe did not purchase any. When the price fell to $1.75, Moe purchased a slice each day for lunch. Thus, we can infer that Moe's reservation price for a slice of pizza is:
A. exactly $2.00. B. at least $1.75 but less than $2. C. less than $1.75. D. exactly $1.75.
A positive externality ________
A) gives rise to external benefits B) leads to increasing returns to scale C) imposes an additional cost on the society D) leads to higher economic profit
For the United States, U.S. direct foreign investment abroad is more significant than foreign investment in U.S. securities and currency
Indicate whether the statement is true or false
An "opportunity cost" may be described as:
a. the value of what must be gtiven up b. the opporrtunity foregone c. the value of the next best alternative d. the correct measure of cost e. all of these are correct