A rise in the price of an input can be expected to lead to a rise in its marginal physical product.
Answer the following statement true (T) or false (F)
True
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Refer to the scenario above. Which of the following is an optimal bid for Molly?
A) $836 B) $750 C) $825.50 D) $700
What are the properties of indifference curves?
What will be an ideal response?
Use the above table. If the marginal revenue product is $30, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A) 1; $10 B) 2; $15 C) 3; $20 D) 4; $25
If the economy is experiencing inflation, then the most appropriate government policy would be to:
A. shift the aggregate demand curve by using a tax increase coupled with spending cuts. B. shift the aggregate demand curve by using a tax increase coupled with more spending. C. shift the aggregate demand curve by using a tax cut coupled with spending cuts. D. shift the aggregate supply curve by using a tax cut coupled with more spending.