The marginal product of capital (MPK) is given by the ________
A) capital share of income + average output per unit of capital
B) capital share of income - average output per unit of capital
C) capital share of income ÷ average output per unit of capital
D) capital share of income × average output per unit of capital
E) none of the above
D
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A monopolistically competitive firm
a. earns no long-run economic profit and is therefore allocatively efficient b. earns no long-run economic profit and therefore produces at the minimum point of its ATC curve c. earns no long-run economic profit and is allocatively efficient even though it is not producing at the minimum point of its ATC curve d. earns no long-run economic profit, is allocatively inefficient, and does not produce at the minimum point of its ATC curve e. has a chance of making a long-run economic profit and is therefore allocatively inefficient
As the dollar depreciates, which of the following is most likely to occur?
a. More Americans will travel abroad. b. American imports will rise. c. More foreigners will visit the United States. d. American firms will increase their investments abroad.