The marginal revenue product is the extra revenue the firm receives by selling one additional unit of output.

Answer the following statement true (T) or false (F)

False

Economics

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A. Everything else remaining unchanged, what is likely to happen to the demand curve for coffee workers if:

i. there is a fall in the price of coffee. ii. there is an increase in the wage rate. iii. there is a rise in the price of coffee seeds. iv. a new fertilizer that increases the productivity of coffee farmers is invented. b. Everything else remaining unchanged, what is likely to happen to the supply curve of female workers if: i. the opportunity cost of working outside home decreases. ii. there is an increase in the wage rates.

Economics

Suppose when Nablom's Bakery raised the price of its breads by 10 percent, the quantity demanded fell by 15 percent. What was the effect on sales revenue?

A) Sales revenue increased. B) Sales revenue decreased. C) Sales revenue remained unchanged. D) It cannot be determined without information on prices.

Economics