Refer to the table above. The opportunity cost per dollar of value added in designing shoes by workers in Laborland is ________

Expansionary fiscal policy to prevent real GDP from falling below potential real GDP would cause the inflation rate to be ________ and real GDP to be ________

A) higher; lower B) higher; higher C) lower; lower D) lower; higher

You can find the MRP by multiplying marginal physical product by price for

A. both the perfect competitor and the imperfect competitor. B. neither the perfect competitor nor the imperfect competitor. C. only the perfect competitor. D. only the imperfect competitor.