Explain how to derive the demand for an input
Input demand is the downward-sloping portion of the marginal revenue product curve. Marginal revenue product depends on both marginal physical product and the price or revenue from the sale of that product. Use only the downward-sloping portion. On points on the upward-sloping portion of MRP the firm can increase profits by hiring additional units of the input; therefore, the firm will not consider choosing any of the quantities along that portion of the MRP curve.
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Most agree that ______________ is the degree to which the overall quality of one's life is judged as favorable. The General Social Surveys (GSS) of the United States asks questions about this
a. Happiness b. Fortitude c. Effectiveness d. Decision making
What happens to desired investment spending if the interest rate rises? Is this response relevant to the supply of loanable funds curve or the demand for loanable funds curve?
In contrast to the functional finance view, Classical sound finance macroeconomics assumes that individuals:
A. do not adjust their spending to account for future tax payments. B. adjust their spending to account for future incomes. C. do not adjust their spending to account for future incomes. D. adjust their spending to account for future tax payments.
Suppose a monopolist's demand curve is P = 60 - Q, its cost function is TC = 10Q + 50, and its marginal cost is 10. If a governmental agency wished to set the price so that it created the smallest deadweight loss without causing the monopolist to have negative economic profits, this price would be
A) $10.00. B) $11.02. C) $14.57. D) $35.00.