A profit-maximizing farmer will apply additional units of fertilizer until the marginal revenue product (MRP) of fertilizer is half the MRP of skilled labor when a unit of fertilizer

a. costs twice as much as a unit of skilled labor.
b. costs half as much as a unit of skilled labor.
c. is half as productive, on average, as a unit of skilled labor.
d. is twice as productive, on average, as a unit of skilled labor.


B

Economics

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Consider a situation in which the government has limited information about costs and benefits of pollution abatement associated with a given industry

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Economics

Is it correct to say that if the total balance of payments does not equal zero, then the reserves account will automatically adjust to ensure it equals zero

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Economics

If an economy's institutional production possibilities frontier (institutional PPF) shifts rightward, the economy's

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Economics