_MRP = marginal revenue product
A. MRP = MRC = W
B. MRP > MRC = W
C. MRP > MRC > W
D. MRP = MRC > W
D. MRP = MRC > W
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The interest rate that the Fed charges when it makes a last resort loan is the ________ rate
A) discount B) short-term C) reserve D) federal funds
One "problem" with applying the Jorgenson theory of investment to project investment is that
A) the MPK is known with certainty by business executives but the user cost is uncertain. B) the MPK is known with uncertainty by business executives but the user cost is certain. C) both user cost and the MPK are uncertain. D) it does not explain the accelerator.
Refer to the above table. If the price of the product is $1.50, what is the marginal revenue product of the 11th worker?
A) $1.50 B) $13.64 C) $150 D) $900
Bid-rigging is more likely when
a. auctions are for larger amounts b. auctions are frequent c. auctions are infrequent d. the auctioneer is paid on commission rather than a fixed fee