A profit-maximizing price searcher will expand output to the point where
a. total revenue equals total cost.
b. marginal revenue equals marginal cost.
c. price equals average total cost.
d. price equals marginal cost.
B
Economics
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The marginal revenue product of capital is
A) the change in the firm's revenue as a result of employing one more unit of capital, such as a machine. B) the economic rent received by hiring an additional unit of capital. C) the cost to the firm of renting an additional unit of capital. D) the revenue generated by substituting capital for labor in the production process.
Economics
Monetarists assume that there is a powerful direct link between aggregate demand and
A) velocity. B) real money balances. C) wage rates. D) interest rates.
Economics