Q5、Hay farmers are in a perfectly competitive market. Assume that each acre of land produces 100 bushels of hay. The marginal revenue product of an acre of land is then:
A) price of hay per bushel. B) (price of hay per bushel)/100. C) 100 × (price of hay per bushel).
Q6、A shop foreman determines that an employee would produce two more units of output if he worked one additional hour. The product currently sells for $15.00 per unit and the firm is a price taker. Which of the following choices most accurately describes the relationship between the marginal revenue (MR) and marginal revenue product (MRP) from the additional hour of labor input? A) MRP > MR. B) MR = $15 and MRP < MR. C) MRP = MR.
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发表于 2009-1-15 11:07
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