The marginal product of labor is the
a. cost of one worker
b. average output per worker
c. change in revenue from selling one more unit of output
d. change in revenue from using one more unit of labor
e. change in output from using one more unit of labor
E
Economics
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Refer to the scenario above. Using 2013 as the base year, what is the real GDP of the economy in 2012?
A) $50,000 B) $52,500 C) $40,500 D) $49,500
Economics
The figure above shows the marginal social costs (MSC), marginal private benefits (MB), and marginal social benefits (MSB) of college education in Inland
If Inland's government does not intervene, and the colleges are competitive, the deadweight loss is A) zero. B) $100 million per year. C) $200 million per year. D) $300 million per year.
Economics