As firms hire additional units of labor, eventually the marginal revenue product will always increase.
Answer the following statement true (T) or false (F)
False
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When the benefit of another hour of work is greater than the opportunity cost, we would expect the worker to work:
A. another hour. B. an hour less. C. exactly that amount. D. Cannot be determined without more information.
If a country removed an import quota on cotton, then overall that country's
a. exports and imports would rise. b. exports would rise and imports would fall. c. exports would fall and imports would rise. d. exports and imports would fall.
Describe the comparable worth controversy?
What will be an ideal response?
When a large country imposes an import quota
A. the product's domestic price falls. B. domestic production of the product falls. C. the product's world price rises. D. the product's world price falls.