When there are diminishing marginal returns to labor, the marginal product of the last worker hired must be negative
Indicate whether the statement is true or false
FALSE
You might also like to view...
The unemployment rate is calculated as follows:
A) labor force/number of unemployed. B) labor force participation rate/number of unemployed. C) number of unemployed/labor force. D) number of employed/labor force.
Big Health is a large health care insurance provider and offers two types of policies. Policy A has an annual price of $1,000 and a co-pay of $20 (the fee that the policy owner pays when seen by a doctor) and Policy B has an annual price of $500 and a co-pay of $50. Individuals will ________ when they choose a policy and Policy ________ will appeal to healthy individuals who do not plan on
needing extensive health care. A) self-reveal; A B) signal; A C) self-reveal; B D) signal; B
The demand curve of a monopolistically competitive firm
A) is horizontal because the firm must cut its price to sell more. B) is perfectly elastic. C) is downward-sloping because it sells an identical product. D) is downward-sloping because it must cut its price to sell more.
In the United States, the average government subsidy for a college education at a private institution is approximately ________ for every $1 spent by the student.
A. $10 B. $5 C. less than $0.65 D. $2