A firm should hire more labor when the marginal revenue product of labor
A) equals the wage rate.
B) exceeds the wage rate.
C) is less than the wage rate.
D) Any of these can be true.
E) None of these are true.
B
Economics
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The World Bank specializes in making loans to
A) industrialized nations. B) communist nations. C) developing nations. D) African nations.
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According to the Coase theorem, in order to solve a negative externality problem efficiently,
a. the property right must be assigned to the party with the least-cost alternative b. the property right must be assigned to the victim of pollution c. transaction costs must be high d. transaction costs must be low e. property rights must be determined by the courts
Economics