After the point of diminishing marginal returns
A) marginal product rises.
B) production should stop.
C) marginal product falls.
D) marginal product shifts from negative to positive.
C
Economics
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Firm A is a monopoly. The demand for its output is p = 90 - Q. Production is such that Q = L. Firm A hires labor in a competitive market where the wage is $10. Firm A will hire
A) 10 units of labor. B) 20 units of labor. C) 30 units of labor. D) 40 units of labor.
Economics
Assume you have $2,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level is equal to 95 at the end of the year, the real value of your savings is closest to
A. $1,900. B. $1,905. C. $2,105. D. $2,095.
Economics