The value marginal product of a resource is
a. the marginal product of the resource multiplied by the price of the product it helps to produce.
b. the price of the product times the price of the resource.
c. larger when the product price is smaller.
d. larger when the marginal product is smaller.
A
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Which of the following is NOT true about the equilibrium price?
A) the price where a change in quantity supplied occurs B) the price where the demand curve intersects the supply curve C) the price where quantity demanded equals quantity supplied D) the price where there is neither excess quantity demanded or excess quantity supplied
Firms operating in perfectly competitive markets produce an output level where marginal revenue equals marginal cost
a. True b. False Indicate whether the statement is true or false
Managed funds
a. typically have a higher rate of return and higher costs than index funds. b. typically have a higher rate of return and lower costs than index funds. c. typically have a lower rate of return and higher costs than index funds. d. typically have a lower rate of return and lower costs than index funds.
Indifference curves further from the origin imply:
A. a lower level of satisfaction. B. the same level of satisfaction as any other curve. C. a higher level of satisfaction. D. None of the statements is correct.