In the above table, what is the marginal revenue product of the 1st worker?
A. $400
B. $920
C. $80
D. $700
Answer: D
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If a firm collects $80 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $120 in revenue when it sells 6 units, then one can infer the firm is a(n):
A. perfectly competitor. B. monopolistic competitor. C. monopolist. D. oligopolist.
If the federal government has a budget deficit, then it is definitely the case that
A) the tax revenue exceed government outlays. B) the tax revenue and government outlays are equal. C) the tax revenue is falling and government outlays are rising. D) government outlays exceed tax revenue. E) the tax revenue is rising and government outlays are falling.
Total fixed cost
A) increases as output increases. B) does not change as output changes. C) decreases as output increases. D) initially decreases and then increases as output increases.
Explain why it may make sense for the United States, Japan, and Europe to allow their mutual exchange rate to float?
What will be an ideal response?