In a perfectly competitive resource market, the Marginal Revenue Product Curve is
A) vertical.
B) horizontal.
C) downward sloping.
D) upward sloping.
C
You might also like to view...
________ will lead to an increase in the gross domestic product of a country, all other variables remaining constant
A) An increase in exports B) An increase in imports C) A fall in the expenditure incurred by the government D) A fall in the expenditure on investment goods
According to the liquidity premium theory of the term structure, a downward sloping yield curve indicates that short-term interest rates are expected to
A) rise in the future. B) remain unchanged in the future. C) decline moderately in the future. D) decline sharply in the future.
Firms in perfectly competitive markets who wish to maximize profits should produce:
A. more as long as marginal cost is greater than marginal revenue. B. less as long as marginal cost is less than marginal revenue. C. at the level where marginal cost equals marginal revenue. D. All of these are true.
The federal grant program for POTW construction
a. displaced the Clean Water State Revolving Fund (CWSRF) Program b. assured that the larger proportion of spending on POTW construction was at the local level c. lowered the federal cost share in 1985 to reduce inherent inefficiencies d. encouraged cost-effective decision making at the municipal level