Which of the following equations is true of a profit-maximizing firm?
A) Wage = value of worker's marginal product B) Wage = worker's marginal product
C) Wage = worker's total product D) Wage = average product of all workers
A
You might also like to view...
According to the Taylor rule, the Federal Reserve lowers the real interest rate as the output gap ________ or the inflation rate ________.
A. decreases; increases B. increases; decreases C. decreases; decreases D. increases; increases
Refer to Table 1-2. What is Julius's marginal cost if he decides to stay open for three hours instead of two hours?
A) $0 B) $18 C) $54 D) $65
"No central bank can be indifferent to its currency's value in the foreign exchange market." Discuss
What will be an ideal response?
In Figure 3-5 above, the marginal propensity to save is
A) 0.20. B) 0.80. C) 0.05. D) 0.02.