Refer to the data provided in Table 10.1 below to answer the following question(s).
Table 10.1 
Refer to Table 10.1. The marginal revenue product of the third worker is
A. $5.
B. $25.
C. $125.
D. $375.
Answer: C
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A) normal profit; any four firms B) value of sales; the four largest firms C) economic profit; any four firms D) economic profit; the four largest firms
According to some economists, the protection granted to infant industries should be
a. terminated after one year. b. for new firms that eventually would develop significant economies of scale in their production processes c. restricted to firms that face little competition d. based on current absolute advantage e. permanent
Uncertainty may cause banks to hold larger excess reserves. Other things being constant, this will: a. have no effect on the volume of loans or the money supply
b. tend to reduce both the volume of loans and the money supply. c. tend to increase both the volume of loans and the money supply. d. tend to increase the volume of loans but reduce the money supply.
If a monopolist increases quantity by one unit, _____
a. the monopolist's marginal revenue will fall b. the price of all units will increase c. the marginal revenue of selling the last unit will be more than its price d. the marginal revenue curve will rise above the demand curve