A profit-maximizing firm will hire inputs until MRP = P of the input.

Non-profit organizations may

a. issue stock. b. provide goods and services to members. c. pay income taxes. d. pay dividends.

Economic theory indicates that the behavior of

a. government employees differs from the behavior of employees in the private sector because government employees generally disregard their own personal self-interest when making decisions. b. elected public officials differs from the behavior of all other individuals in society because they are not influenced by private interests. c. individuals when they make decisions about who to vote for is very different from the behavior of these same individuals when they make other types of choices. d. voters, government employees, and public officials is best understood by applying the same basic principle we use to predict the behavior of people in the private sector--that incentives matter.