Determinants of the marginal productivity of labor include all of the following EXCEPT
A) talent.
B) education.
C) experience.
D) location.
D
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The demand curve faced by a monopolist is
a. perfectly elastic b. perfectly inelastic c. undefined d. the market demand curve e. the sum of the demand curves for perfectly competitive firms in a similar industry
"A producer wanting to employ optimal quantity of inputs should choose the point where diminishing returns sets in." True or false?
Indicate whether the statement is true or false
Using indifference curve analysis, an optimum is characterized by
A) the marginal rate of substitution of one good divided by its price equal to the marginal rate of substitution of the other good divided by its price. B) the marginal rate of substitution being equal to one. C) the marginal rate of substitution being equal to zero. D) the marginal rate of substitution being equal to the ratio of the prices of the two goods.
Economic analysis requires us to combine:
A. unlimited resources with limited wants. B. developed and developing nations. C. republicans and democrats. D. theory with observations.