The change in total revenue that results from employing one more unit of labor is called the
A) wage rate.
B) value of marginal product of labor.
C) average revenue.
D) marginal product of labor.
B
Economics
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Consider the market for cable television in the figure above. This graph depicts a natural monopoly because the
A) marginal cost curve is constant. B) demand curve is downward sloping. C) average cost curve is declining as it crosses the demand curve. D) marginal revenue curve is downward sloping.
Economics
What is a cartel? Can cartels generate long-term profits without the existence of barriers to entry?
What will be an ideal response?
Economics