Refer to the above figure. The firm is operating using MRP0. An increase in productivity has occurred. The relevant curve for the firm after the increase in productivity
A) is MRP0.
B) is MRP1.
C) is MRP2.
D) could be MRP1 or MRP2 depending upon whether the firm was earning a positive profit.
C
You might also like to view...
There is excess production of tomatoes in the market. This implies that
A. the current price is above the equilibrium level. B. supply of tomatoes is more than the demand. C. quantity demanded is more than quantity supplied. D. the price will be rising, as a result.
A problem with the socialization argument is that _____
a. the organization of public schools often lends itself to segregation b. it is unfair c. students need to learn to be good citizens d. public schools are open to everyone
Suppose your donut shop earns $24,000 in total revenues per month with explicit costs of $12,000 and opportunity costs of $8,000. Your accounting profit is
A) $16,000. B) $12,000. C) $4,000. D) zero.
Which of the following institutions form the private sector in an economy?
a. Only households b. Households and the government c. Households, businesses, and foreign firms d. Households and businesses only e. Foreign investors and foreign governments