Other things constant, an increase in resource prices will:

For a firm that is a price taker in the market for labor, the marginal revenue product of labor equals the

A) marginal product of labor multiplied by the product price. B) marginal product of labor multiplied by the marginal cost of production. C) marginal product of labor divided by the wage rate. D) marginal product of labor multiplied by the wage rate.

An oligopolistic firm that is part of a collusive agreement is less likely to cheat

a. the more punishment it expects if the cheating is detected b. the lower is the possibility of detection c. the less likely is the collapse of the entire agreement as a result of cheating d. the greater is the additional profit from charging a lower price than the other firms e. the higher is the chance of taking customers away from competitors by charging a lower price