The marginal product of any factor of production depends on
a. the quantity of the factor used.
b. the price of the final good.
c. the demand for the final good.
d. All of the above are correct.
a
Economics
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The above table presents data for the nation of Economica
a. What is the aggregate planned expenditure and unplanned inventory change at each level of real GDP? b. At what level of real GDP is equilibrium expenditure achieved?
Economics
When production efficiency does NOT occur,
i. an economy is producing at a point within its PPF. ii. there are unemployed resources. iii. allocative efficiency cannot occur. A) i only B) i and ii C) iii only D) i and iii E) i, ii, and iii
Economics