A monopolist will hire an additional unit of labor as long as
A) the additional cost of the worker is outweighed by the additional revenues made from selling the output of theses workers.
B) the marginal revenue curve is above the demand curve.
C) the marginal revenue product is larger than the marginal factor cost.
D) the marginal revenue product is less than the marginal factor cost.
A
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The exchange rate between currencies of different countries is controlled primarily by ________ in currency markets
A) the outsourcing agreements B) supply and demand C) diplomatic relations D) tariff rates
The marginal productivity theory of distribution holds that
a. each factor is paid what it deserves. b. the owner of each factor is paid the amount that the factor contributes to earnings. c. each factor's income depends on how hard it works. d. each factor receives an equal share of the revenue from production.
Changes in the consumer price index are useful in predicting changes in the producer price index
a. True b. False Indicate whether the statement is true or false
Suppose the total cost of producing T-shirts can be represented as TC = 50 + 2q. The average cost of the 5th T-shirt is
A) 2. B) 12. C) 52. D) 60.