If businesses forecast significant economic growth in the future, they may:
a. decrease their investment spending.
b. increase their investment spending
c. decrease their consumption spending.
d. increase their consumption spending.
b
Economics
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Isoquants are convex to the origin due to:
A) the law of diminishing marginal utility. B) the assumption of the diminishing marginal productivity of each input. C) the fact that as less capital is used, its marginal productivity falls. D) the fact that as more labor is used, its marginal productivity rises.
Economics
Refer to the above table. If the price of the good produced is $7, the marginal revenue product of the 11th worker is
A) $700 B) $4200 C) $630 D) $3500
Economics