When it is cheaper for one firm to produce a particular product, ____ exist(s)
a. economies of scale
b. economies of scope
c. diminishing marginal returns
d. cross-subsidization
a
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According to the Census Bureau,
a. a greater percentage of families are below the poverty level now than in 1960 b. a smaller percentage of families are below the poverty level now than in 1960 c. the same percentage of families are below the poverty level now as in 1960 d. the percentage of families below the poverty level has fallen dramatically since 1970 e. 30 percent of families are below the poverty level
What is the relationship between the MRP and MPP of labor?
a. MRP is MPP multiplied by the price of the good. b. MPP is MRP multiplied by the price of the good. c. MRP is MPP divided by the price of the good. d. MPP is MRP divided by the price of the good. e. MPP is the wage rate that in equilibrium equals MRP.