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Author Question: In a competitive labor market, marginal revenue product equals marginal product times the wage rate. ... (Read 149 times)

sarasara

  • Hero Member
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  • Posts: 521
on: Jun 30, 2018
In a competitive labor market, marginal revenue product equals marginal product times the wage rate.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The Consumer Price Index (CPI) is a measure of the:
 a. cost of a market basket of consumer goods and services relative to its cost in a base year.
  b. change in the average price of a market basket of necessary goods and services.
 c. cost of a market basket of consumer goods relative to the previous year.
 d. change in the average price of all intermediate goods and services.
 e. average price of all final goods and services relative to the average price in the previous year.


xoxo123

  • Sr. Member
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  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

a


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