The marginal revenue product of an input tends to decrease as
A. the price of the input decreases.
B. the price of output increases.
C. productivity increases.
D. more of the input is used.
Answer: D
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The economic model of consumer behavior explains how consumers' tastes and preferences are formed
Indicate whether the statement is true or false
In the United States, a "buy American" act was passed in 1933 to create larger markets for domestic goods
a. True b. False Indicate whether the statement is true or false
Which of the following statements refers to the wage-price spiral process?
(A) The salary of a worker fluctuates with the amount of sales he or she accomplishes per month. (B) Employees only receive a raise when their purchasing power has been eroded by inflation. (C) An employee loses his or her job, finds a position at another company, and is underemployed. (D) A worker receives a raise, which increases costs for the employer.