Profit maximization implies that firms will want to ________
A) accumulate capital while the MPK is greater than the real wage
B) accumulate capital while the MPK is greater than the rental price of capital
C) accumulate labor while the MPK is greater than the rental price of capital
D) accumulate labor while the MPK is greater than the real wage
E) none of the above
B
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Which of the following is true?
i. The advanced economies account for more than half of global production. ii. Almost four out of every five people in the world live in the developing economies. iii. In the advanced economies, agriculture accounts for a larger part of total production than in the developing economies. A) Only i and ii B) i, ii, and iii C) Only i D) Only ii and iii E) Only i and iii
The alternate-section provision was designed to:
a. allow the government to share in increased land values resulting from railroad building. b. encourage private businesses to locate along railroad routes. c. discourage farmers from cultivating crops near railroad routes. d. make railroad stations more accessible to families.
Which of the following areas of the world experienced virtually no change in its poverty rate from 1981 to 2010?
A. China B. South Asia C. India D. sub-Saharan Africa
How can market failure occur in the market for hybrid automobiles? What could the government try to do to improve the situation?