Both marginal revenue and marginal revenue product refer to the gains to the firm from employing one additional worker

Which of the following is a distinguishing characteristic of oligopolies?

a. a standardized product b. the goal of profit maximization c. the interdependence among firms d. downward-sloping demand curves faced by firms e. a downward-sloping market demand curve

A price floor set above the equilibrium price causes a surplus in the market

a. True b. False Indicate whether the statement is true or false