Which of the following is not true about marginal revenue product?
A. It shows the value of the marginal physical product.
B. It is the marginal physical product times price of the product under perfect competition.
C. It is the marginal physical product times marginal revenue.
D. It shows the marginal costs of inputs.
Answer: D
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A few decades ago, there were hardly any Subway restaurants in India. Now, they are present in almost every big city. This is an outcome of:
A) fair trade union practices. B) traditionalism. C) the protectionist policies adopted by the Indian government. D) globalization.
Decision trees are commonly used to illustrate how firms make business decisions that depend on the actions of rival firms. A decision tree has boxes that contain points that represent when firms must make the decisions contained in the boxes
What are these points called? A) decision options B) decision nodes C) option points D) either-or terminals
Scarcity refers to
A) a shortage in a good or service. B) the ability of society to consume all that it produces. C) the inability of society to satisfy all human wants because of limited resources. D) the inability of an individual to purchase a good or service due to her limited income.
All of the following are tax shields except which one?
A) depreciation allowances B) an interest-only payment of a loan C) a principal payment on a loan D) straight-line depreciation