For a perfectly competitive firm, the value of the marginal product of labor falls as more workers are hired because of the diminishing

Economists refer to the lack of incentive that voters have to search for and obtain information to help make better political choices as the

a. shortsightedness effect. b. public-interest effect. c. free rider problem. d. rational-ignorance effect.

An organization of producers that limits the amount of a good produced is known as a

A) free market organization. B) guild. C) collective. D) co-op.