To determine the marginal physical product of labor, you must
a. hold total output constant and calculate how much revenue an additional worker generates
b. hold capital constant and calculate how much revenue an additional worker generates hold capital constant
c. hold all other factors of production constant and calculate how much output an additional worker produces
d. hold labor constant and calculate how much output an additional worker produces
e. hold labor constant and calculate how much revenue an additional worker generates
C
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A decrease in the real interest rate leads to
A) an increase in investment demand so that the demand for loanable funds curve shifts rightward. B) a fall in the capital stock. C) an increase in the expected profit. D) a movement downward along the demand for loanable funds curve.
The elasticity of the momentary supply curve for any good always equals
A) zero. B) one. C) positive infinity. D) None of the above answers is correct.
If the price of butter increases 5 percent and the amount of margarine purchased increases 25 percent, then the cross-price elasticity of these goods is:
A. 5. B. 5. C. 0.2. D. 0.2.
Which of the following will not shift the demand curve for televisions?
a. An increase in the price of televisions. b. An increase in consumer income. c. An increase in the price of radios (a substitute). d. An increase in the price of cable service (a complement).