Troll Corporation sells dolls for $10.00 each in a market that is perfectly competitive. Increasing the number of workers from 100 to 101 would cause output to rise from 500 to 550 dolls per day. The marginal revenue product for the 101st worker is:

If the inflation rate in Japan is higher than the inflation rate in the United States

A) there will be an increase in U.S. imports from Japan. B) there will be an increase in Japanese exports to the United States. C) there will be no change is U.S. imports from Japan. D) there will be a decrease in U.S. imports from Japan.

An externality is

a. a cost of a transaction that is borne by a third party b. a benefit of a transaction that is enjoyed by a third party c. a cost or benefit that arises when market price changes d. any cost or benefit of a transaction that is not accounted for in the market price e. the external revenue generated by a firm