If a firm is able to charge a higher price for its output, all else equal, the value of the marginal product of labor will decrease to offset the higher price

The additional costs you expect to incur if you undertake an activity and the additional benefits you expect to receive if you undertake an activity are called ________ costs and benefits

Fill in the blank(s) with correct word

Which of the following are TRUE regarding "positive" statements?

I. They describe what "ought to be." II. They describe what is believed about how the world appears. III. They can be tested as to their accuracy. A) I and II B) II and III C) I and III D) I, II and III