An input's marginal revenue product is given by:
a. the input's marginal expense times marginal revenue.
b. the input's marginal expense times the input's marginal physical productivity.
c. marginal revenue times the number of units employed.
d. the input's marginal physical productivity times marginal revenue of the firm's output.
d
Economics
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All the production points that lie above the total product curve are inefficient
Indicate whether the statement is true or false
Economics
Suppose an identical tax is levied on capital, labor, and land. Would the tax have the same effect in each of these markets? Explain your answer
What will be an ideal response?
Economics