A profit-maximizing firm will hire inputs until MRP = P of the input
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The formula used for calculating the total profit of a monopolistic competitor is ________
A) (Price - Average Total Cost) × Quantity B) Price - Marginal Cost C) (Price- Average Total Cost) / Quantity D) (Price -Average variable cost)
Economics
The poorest 20 percent of the world's population receive what percentage of world income?
A. Less than 2 percent B. About 4 percent C. Around 8 percent D. Close to 10 percent
Economics