Refer to Table 17-2. The marginal revenue product of labor from the third unit of labor is

Average revenue for a perfectly competitive firm is equal to

a. price times output b. marginal revenue c. total revenue/marginal revenue d. output/total revenue e. zero

If a budget deficit is the result of expenditures for programs such as farm subsidies and Social Security, the burden on future generations is slight

a. True b. False Indicate whether the statement is true or false