At a perfectly competitive firm, all of the following is true of the MRP curve EXCEPT
A) the MRP curve is the derived supply of labor.
B) the MRP curve shifts leftward when labor productivity falls.
C) the MRP curve shifts rightward when the product price rises.
D) the MRP curve shifts leftward when the demand for the final product falls.
A
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A game in which any gains one player makes are offset by equal losses by another player is known as a
A) zero-sum game. B) positive-sum game. C) negative-sum game. D) cooperative game.
If Japan imposes a quota on imports of rice, the effect will be
a. less rice and higher price in Japan, lower rice prices in exporting countries. b. more rice and higher price in Japan, higher rice prices in exporting countries. c. less rice and lower price in Japan, higher rice prices in exporting countries. d. more rice and lower price in Japan, lower rice prices in exporting countries. e. less rice and higher price in Japan, higher rice prices in exporting countries.