An increase in the demand for a firm’s output ? A. decrease the prosperity of the firm but increases the prosperity of the factors hired by the firm B. decreases the prosperity of both the firms and the factors hired…
If both input and output markets are competitive and firms are profit maximizing, then in equilibrium each factor of production earns ? A. an amount equal to the price of output times total output B. the amount allocated by the…
An increase in the demand for apples will cause all but which of the following ? A. a decrease in the number of apple pickers employed B. an increase in the value of the marginal product of apple pickers C.…
A decrease in the demand or fish ? A. decrease the value of the marginal product of fishermen reduces their wage, and reduces employment in the fishing industry B. increase the value of the marginal product of fishermen increase their…
The value of the marginal product of labor is ? A. the price of the output times wage of laborB. the price of the output times the marginal product of labor C. none of these answers D. the wage of…
The most important factors of production are ? A. labor, land, and capital B. water, earth and knowledge C. money, stocks and bonds. D. management finance and marketing