A change in the supply of one factor of production
a. will not change either the marginal productivities or the prices of other factors.
b. will not change the prices of other factors, but it may change their marginal productivities.
c. will not change the marginal productivities of other factors, but it may change their prices.
d. changes the marginal productivities and the prices of other factors.
d
You might also like to view...
An IMF official was quoted as acknowledging that the Fund's stabilization packages have often led to adjustment without growth
However, he said, "the Fund is a firefighter not a carpenter, and you cannot expect the firefighter to rebuild the house as well as put out the fire." Provide a balanced evaluation of this statement.
To increase total revenue, firms with ________ demand should lower price, and firms with ________ demand should increase price.
A. elastic; unit B. elastic; inelastic C. unit; inelastic D. inelastic; elastic
In the last half of 1999, the U.S. unemployment rate was about 4 percent. Historical experience suggests that this is
a. above the natural rate, so real GDP growth was likely low. b. above the natural rate, so real GDP growth was likely high. c. below the natural rate, so real GDP growth was likely low. d. below the natural rate, so real GDP growth was likely high.
In which of the following market models do demand and marginal revenue diverge?
A. Pure monopoly, oligopoly, and monopolistic competition. B. Pure monopoly, oligopoly, and pure competition. C. Pure monopoly only. D. Oligopoly only.