Marginal physical product measures the increase in total output that results from a one-unit increase in an input
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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When economists speak of normal goods they mean goods for which
A) the demand curve slopes downward. B) marginal utility is positive. C) marginal utility decreases as consumption increases. D) demand decreases when incomes fall.
Economics
The London gold fixing is an example of a(n)
A) dealer market. B) Walrasian auction market. C) brokered market. D) secondary market.
Economics