The value of the marginal product of a resource is equal to:
a. the marginal revenue of the firm, if the product market is perfectly competitive.
b. the market price of the product divided by the price of the resource.
c. the market price of the product divided by the marginal product of the resource.
d. the marginal revenue product of the resource, if the product market is perfectly competitive.
e. the marginal product of the resource divided by the price of the resource.
d
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Use the information in the table above plus the fact that indirect taxes less subsidies are $10 billion and depreciation is $30 billion to calculate the value of GDP
A) $180 billion B) $150 billion C) $140 billion D) $130 billion
The Bigdrill company drills for oil, which it sells for $200 million to the Bigoil company to be made into gas. The Bigoil company's gas is sold for a total of $600 million
What is the total contribution to the country's GDP from companies Bigdrill and Bigoil? A) $200 million B) $400 million C) $600 million D) $800 million