If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $500 per credit hour, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $500.
B. $1500.
C. $150,000.
D. $300,000.
Answer: D
You might also like to view...
Use the three basic questions to describe why perfect competition is efficient
What will be an ideal response?
Every transaction concerning the exportation of goods from the United States constitutes a
A) supply of foreign currency with no effect on the market for the dollar. B) demand for dollars with no effect on markets for foreign currencies. C) supply of foreign currencies and a demand for dollars. D) demand for foreign currencies and a supply of dollars.
In the perfectly competitive market, individual firms exert no effect on the market price. Therefore, the firm's marginal revenue curve is:
a. indeterminate. b. an upward-sloping curve. c. a downward-sloping curve. d. the same as the firm's demand curve.
Which of the following would be most likely to enhance the growth rate of an economy
What will be an ideal response?