If the marginal product of a worker for a calculator manufacturer is 10 calculators, and the price of a calculator is $10, the firm's marginal revenue product is
A. $1.00.
B. $10.00.
C. $100.00.
D. $1,000.00.
Answer: C
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A monopolist will always end up choosing to operate
a. even if its profits are negative. b. on the elastic portion of its demand curve. c. until such time as a new competitor enters its market. d. only if it can capture the entire consumer surplus.
The question "Should we produce LCD televisions or computer monitors?" is an example of a ________ question
A) how B) what C) why D) where E) for whom
Hardware stores charge higher prices for snow shovels after a big snowstorm. What role do prices play in the snow shovel market?
What will be an ideal response?
The imposition of a quota on an imported good
A) shifts the demand curve down for the good. B) shifts the supply curve up for the good. C) Both A and B. D) Not enough information to determine.