The additional revenue associated with hiring one additional unit of some factor input, such as labor, is called
A) marginal cost.
B) marginal revenue product.
C) marginal factor cost.
D) marginal physical product.
B
Economics
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A congress member concerned about ensuring vertical equity in taxation would be most likely to argue for obtaining government revenue through a
a. progressive tax on personal income. b. regressive tax on corporate income. c. sales tax. d. head tax.
Economics
Refer to the diagram below for the milk market. In this market, the equilibrium price is ____ and equilibrium quantity is ___
A. $1.50 per gallon; 28 million gallons
B. $1.50 per gallon; 30 million gallons
C. $28 per gallon; 150 million gallons
D. $1.00 per gallon; 35 million gallons
Economics