The rule that states that the marginal revenue product equal to price does not hold when there are more than two inputs
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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The marginal revenue product of labor
a. increases as more labor is hired b. is independent of the quantities of other inputs used by the firm c. is measured while varying the amounts of all inputs used by the firm d. is independent of the price of the firm's output e. depends on the quantities of other inputs used by the firm
Economics
Use the following graph to answer the next question.
Which of the following factors will shift AS1 to AS3?
A. A decrease in household indebtedness B. An increase in productivity C. A decrease in business taxes D. An increase in input prices
Economics