In any production process the marginal product of labor equals
a. Change in total output divided by change in labor input
b. Total output divided by total input
c. Total output
d. None of the above
a
Economics
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The prime rate is the interest rate at which banks can borrow from the Fed
Indicate whether the statement is true or false
Economics
All else equal, what happens to consumer surplus if the price of a good decreases?
a. Consumer surplus increases. b. Consumer surplus decreases. c. Consumer surplus is unchanged. d. Consumer surplus may increase, decrease, or remain unchanged.
Economics