The above table depicts the output of a firm that manufactures computers. The computers sell for $1,000 each. What is the marginal physical product (MPP) of the eleventh worker per week?

Which of the following describes the relationship of price and quantity supplied based on the law of supply?

a. Firms are willing to produce a greater quantity of a good when the price of the good is higher. b. Firms' production levels are not correlated with the price of a good. c. The supply curve slopes downward. d. As price increases, producers have more market power than consumers.

A guarded barbed wire fence separates East and West Bovinia. Soccer players are paid twice as much in West Bovinia as in East Bovinia. This is an example of

a. inelastic supply b. a temporary resource price differential c. a permanent resource price differential d. diminishing marginal revenue product e. economic rent