Marginal physical product of the first worker is 100, 120 for the second, 80 for the third, 30 for the fourth, 5 for the fifth, 3 for the sixth, 2 for the seventh, 1 for the eighth, and 0 for the ninth. What is total product for the fifth worker and the

If both the goods and the labor market are perfectly competitive, a firm that hires labor up to a point where the value of marginal product of labor equals the wage rate also produces at a point where price is:

A) equal to average cost. B) equal to marginal cost. C) less than marginal cost. D) higher than marginal cost.

If a firm is due to be paid in euros in two months, to hedge against exchange-rate risk the firm should ________ foreign exchange futures ________

A) sell; short B) buy; long C) sell; long D) buy; short