According to the above table, if the price of the good produced is $5 and the wage rate is $400, then the marginal revenue product of the 7th worker is
A) $300.
B) $60.
C) $12.
D) $400.
A
Economics
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The policy of keeping tax rates stable as government spending fluctuates is known as ________
A) Ricardian equivalence B) tax smoothing C) crowding-out D) a tax smoothie
Economics
Refer to the graph below showing the market for a product. Which of the following would best explain why the shift in demand from D1 to D2 would cause price to rise from P1 to P2?
A. Because after the shift in the demand, there would be a surplus at price P2
B. Because after the shift in the demand, there would be a shortage at price P2
C. Because after the shift in the demand, there would be a shortage at price P1
D. Because after the shift in the demand, there would be a surplus at price P1
Economics