Refer to the below table. The marginal revenue product of the third unit of the resource is:





A. $3



B. $5



C. $19



D. $36

B. $5

Economics

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Which of the following observations regarding the Gini coefficient (G) is incorrect?

a. If G is one, the Lorenz curve would overlap the line of perfect income equality. b. If G is zero, it represents perfect income equality c. If G is one, it represents perfect income inequality d. The closer G is to 1 the greater the degree of income inequality

Economics

The demand for the Franconian franc in the foreign exchange market equals 11,000 - 25,000e and the supply of francs in the foreign exchange market equals 9,000 + 25,000 e, where e is the nominal exchange rate expressed in U.S. dollars per franc. If the franc is fixed at 0.15 U.S. dollars per franc, then the franc is ________ and Franconia has a balance-of-payments ________.

A. overvalued; deficit of 5,500 francs B. overvalued; surplus of 5,500 francs C. undervalued; deficit of 5,500 francs D. undervalued; surplus of 5,500 dollars

Economics