What is measured by marginal revenue product?

When an oligopolist chooses a maximin strategy, how is that helpful and what is being assumed about the other players?

What will be an ideal response?

Which of the following is most likely to increase the supply of corn?

a. The farm worker's union successfully negotiates a pay increase for corn harvest workers. b. New medical reports claim that eating corn bread increases risk of heart attacks. c. The government eliminates subsidies formerly paid to corn farmers. d. Farmers that grow soybeans can also grow corn, and the price of soybeans drops substantially.