The value of a worker's marginal product:
A) is the increment in total cost of a firm when the worker is hired.
B) is the additional revenue that the worker brings in to the firm.
C) is the maximum price at which a product can be sold in a market.
D) equals the average product of a firm divided by the marginal product of the worker.
B
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The cyclical deficit is
A) the amount by which the actual government budget deficit exceeds the structural deficit. B) the amount by which structural deficit exceeds the actual budget deficit. C) the same as the structural deficit. D) what the budget deficit would be if the economy were operating at the natural real GDP level.
Mergers often increase profit by
A) producing economies of scale. B) producing economies of scope. C) increasing efficiency of the firm. D) All of the above.