How do economists refer to the change in a firm’s revenue that results from the addition of another piece of equipment?
a. marginal resource cost
b. marginal input benefit
c. marginal product cost
d. marginal revenue product
d. marginal revenue product
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The famous "Kennedy Tax Cut" of 1964 was
(a) meant to stimulate private spending. (b) meant to reduce private investment. (c) meant to restrain consumption. (d) designed to increase the federal deficit.
Income is the only factor used to measure a person's wealth.
A. True B. False C. Uncertain
An increase in the price level
A) shifts the AD curve to the right. B) shifts the AD curve to the left. C) causes an upward movement along the existing AD curve. D) causes a downward movement along the existing AD curve. E) a and c
A decrease in the price level
A) shifts the AD curve to the right. B) shifts the AD curve to the left. C) causes an upward movement along the existing AD curve. D) causes a downward movement along the existing AD curve. E) none of the above