Assume that both the goods and the labor market are perfectly competitive. If at equilibrium, the marginal cost faced by a firm is $3 and the market wage rate is $6, the marginal product of the last unit of labor hired by the firm must be:

The price of admission to Walt Disney World

A) is the same for everyone. B) is kept low to attract customers, but prices of food and souvenirs inside the park vary by your age, address and other factors. C) can vary by your age and address. D) is determined by the weather on the day of admission.

Which of the following is subtracted from net national product to arrive at national income?

a. net income of foreigners b. depreciation c. indirect business taxes d. transfer payments