In a perfectly competitive resource market the Marginal Revenue Product Curve is
A) vertical.
B) horizontal.
C) downward-sloping.
D) upward-sloping.
C
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Use the following table to answer the next question.YearNominal GDPReal GDPPrice Index15,2004,800--25,500--11235,7505,000--What was real GDP in year 2?
A. $5,320 billion B. $4,911 billion C. $4,820 billion D. $4,875 billion
Which of the following variables is fixed in the aggregate expenditure model?
A) output B) real GDP C) consumption D) investment E) price level
A bond with default risk will always have a ________ risk premium and an increase in its default risk will ________ the risk premium
A) positive; raise B) positive; lower C) negative; raise D) negative; lower
If the "Marginal Congestion Cost" for a public good is constant then the optimal number of users is infinite
a. True b. False