If the marginal resource cost of the tenth worker hired by a firm is $4 and the wage of the tenth worker is $3, the firm will hire ten workers if the marginal revenue product of the tenth worker is
a. $3
b. less than $3
c. greater than or equal to $3
d. greater than or equal to $4
e. less than $4
D
Economics
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In the above figure, what is total revenue at the profit-maximizing point?
A) $182 B) $126 C) $170 D) $176
Economics
If two nations have different per capita income levels and their rates of economic growth are identical, then the absolute per capita income differential:
A. will remain constant. B. may either widen or diminish. C. will diminish. D. will widen.
Economics