A firm that can sell its output for $40 per unit. When it increases its labor force from 4 workers to 5 workers its output increases from 15 to 17 units. The value of marginal product of the 5th worker is

Suppose a $1 tax is placed on a good. The more elastic the supply of the good, the

A) larger the increase in the after-tax price. B) smaller the decrease in the quantity sold. C) less of the tax will be paid by the buyers. D) more of the tax will be paid by the sellers.

The marginal propensity to consume is defined as

A) the change in consumption divided by the change in disposable income. B) the change in disposable income divided by the change in consumption. C) consumption divided by disposable income. D) disposable income divided by consumption.