If you know what marginal cost is, then you should know what marginal revenue is. It's the change in
a. total profit generated by a change in quantity
b. price generated by a change in quantity
c. total revenue generated by a change in quantity
d. output generated by a $1 change in price
e. average revenue generated by a change in quantity
C
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Methods that are sometimes used by unions to increase wages of union workers include I. advertising to increase the demand for union-made goods. II. campaigning against imports
A) I only B) II only C) both I and II D) neither I nor II
Transferable pollution rights would allow firms to move into an area that is already as polluted as allowed by EPA standards
a. True b. False Indicate whether the statement is true or false
If the price of a good in the U.S. is $10 and the unit of foreign currency is the dinar, in which case is the real exchange rate 5/4?
a. the foreign price is 4 dinars and the exchange rate is 1/2 dinars per dollar b. the foreign price is 5 dinars and the exchange rate is 2.5 dinars per dollar c. the foreign price is 4 dinars and the exchange rate is 2 dinars per dollar d. the foreign price is 5 dinars and the exchange rate is 2/5 dinars per dollar
Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 200 computers are produced per week. Given this information, the marginal
product of the third worker is A) 210 computers per week. B) 70 computers per week. C) 60 computers per week. D) 50 computers per week.