Assume that for whatever reason there is a manufacturing firm exhibits a constant marginal product of labor over a certain range of production
Armed with only this information what would you be able to say about the average product and total product of labor curves of this firm.
The marginal product curve and the average product curve would be one and the same and would have a horizontal shape of the relevant production range. The total product function would be an upward-sloping linear function.
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One obstacle to the adoption of the export promotion model by countries in other regions is that
A) the Uruguay Round of the GATT forbids many types of export promotion policies. B) research and development for new exports is too expensive. C) only noncommercial R&D is permitted under the rules of the GATT. D) industrial monopolies in the high-income countries will block further exports by developing countries.
Which of the following pricing policies best identifies when a product should be expanded, maintained, or discontinued?
a. full-cost pricing policy b. target-pricing policy c. marginal-pricing policy d. market-share pricing policy e. markup pricing policy