An increase in the price of product G will result in a(n):

The additional revenue obtained by a firm when it hires an additional worker, holding other inputs constant, is

A) the marginal physical product of labor. B) the marginal revenue product of labor. C) the marginal cost of labor. D) equal to total revenue divided by the number of workers.

If a two percent increase in the price of bananas leads to a two percent decrease in the quantity of bananas demanded, then the demand for bananas is

A) elastic. B) inelastic. C) unit-elastic. D) perfectly inelastic.