Refer to the above table. If the price of the good produced is $7, the marginal revenue product of the 11th worker is
A) $700
B) $4200
C) $630
D) $3500
A
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Why doesn't a perfectly competitive firm charge a price slightly higher than the industry price in order to earn extra profit?
If the price of paperback books increases and consumer expenditures on paperback books also increase, which of the following is necessarily true?
What will be an ideal response?
Equilibrium, in the short run, is achieved when:
a. differences in rates of return cause investors to purchase and sell currency and thereby change the spot rate of exchange. b. the government recognizes a problem and takes action to correct it. c. traders adjust their expectations to match reality. d. inflation falls to zero.
Which of the following items are considered physical capital?
What will be an ideal response?