When a rug factory increases the labor it hires from 10 to 12 workers, the number of rugs produced increases from 16 to 20 . We know then that the marginal physical product of labor is
a. increasing
b. negative
c. impossible to compute
d. 4 rugs
e. 2 rugs
E
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In the long run, equilibrium for a monopolistically competitive firm resembles equilibrium for a monopoly in the sense that
a. both types of firms are able to earn economic profits b. marginal cost exceeds marginal revenue c. price equals marginal cost d. price exceeds marginal cost e. average revenue exceeds price
One goal of the European Common Market was to
a. abolish tariffs and import quotas among the member nations. b. abolish tariffs and import quotas between the member nations and the rest of the world. c. discourage the free movement of capital and labor among member nations. d. replace the North Atlantic Treaty Organization (NATO).
Stock prices will increase, ceteris paribus, when the prevailing interest rate increases.
Answer the following statement true (T) or false (F)
State the definition for the slope of a straight line graph
Please provide the best answer for the statement.