The equation 
is the
A. average propensity to consume.
B. average propensity to save.
C. marginal propensity to consume.
D. marginal propensity to save.
Answer: C
Economics
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A profit-maximizing perfectly competitive firm should hire workers up to the point where labor's marginal revenue product equals the wage rate
Indicate whether the statement is true or false
Economics
Suppose the labor market and all output markets are perfectly competitive. When the labor market is in equilibrium, the wage rate will:
A) be less than the marginal revenue product of labor. B) equal the marginal revenue product of labor. C) be greater than the marginal revenue product of labor. D) None of the above is necessarily correct.
Economics