Figure 17.1 depicts a firm's marginal revenue product curve. If the product price is $2, what is the marginal product of the 30th hour of labor?

A firm's goal is to maximize normal profit

Indicate whether the statement is true or false

An economy that contains a mixture of perfect and imperfect competition and of regulated and unregulated industries is a

a. command economy. b. mixed economy. c. traditional economy. d. laissez-faire economy.