Which term refers to the share of an activity's marginal cost that is paid for by the persons who carry out the activity?

For which of the following products is social influence likely to have the greatest impact?

A) school textbook B) restaurants C) high-blood pressure medication D) toothpaste

Suppose the labor market and all output markets are perfectly competitive. When the labor market is in equilibrium, the wage rate will:

A) be less than the marginal revenue product of labor. B) equal the marginal revenue product of labor. C) be greater than the marginal revenue product of labor. D) None of the above is necessarily correct.