If by selling one more unit of a good, a certain business can increase revenue from $500 to $525. What is the marginal revenue in this case?
A. Marginal revenue cannot be calculated without knowing the quantity.
B. $25
C. $500
D. $525
Answer: B
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Suppose the measured unemployment rate is 3.9% and the natural rate of unemployment is 5.1%. In this situation, policymakers should
A) attempt to stimulate the economy. B) attempt to slow the economy. C) not intervene in the economy. D) The actions of policymakers will depend on how much of the natural rate is frictional unemployment and how much is structural unemployment.
Resale price maintenance is a kind of ________ restraint and it ________ legal.
A) vertical; can be B) horizontal; is never C) vertical; is never D) horizontal; can be
In the above table, if this is a perfectly competitive firm and the market price of the product is $10, what is the marginal revenue product of worker 4?
A) $210 B) $100 C) $411 D) $120
When measuring the benefits from investing in human capital
A. we must include the costs of tuition and books but not the money made from part-time jobs. B. we must include the foregone earnings in the benefit calculation. C. in addition to the monetary benefits, the benefit from expanding horizons should be included. D. the only benefits come from the increase in salary because of going to school.