What is the difference between marginal product and marginal cost?

Q: According to the table, Canada has the eleventh-highest GDP among the countries with the largest eco...

A: Answer -  By  using the table given in the question -" GDP per capita is the gdp divided by populati...

Q: Problem 3: Again, consider the country of Opalia that produces two goods: footballs and basketballs....

A: (a) Consumer price index (CPI) is a tool that measures the average price of the basket of goods that...

Q: Suppose you compare your income this year and last year and find that your nominal income fell but y...

A: Nominal income shows the income in actual terms, unadjusted for inflation. Real income is the income...

Q: Rasheed's utility function for goods X and Y is U(XY) 2XYY Let Py and Py be the prices for goods X a...

A: Answer -Given in the question -U(X.Y) = 2XY + Y................................(1)Price of good "X" ...

Q: Question 2 The economic cost of education of a student is the summation of all the economic cost of ...

A: The economic cost of education is defined as how a student can sum up all the economic cost of the r...

Q: suppose that the election of a popular candidate suddenly increases people’s confi- dence in the fut...

A: The aggregate demand curve is defined as the sum total of all expenditure in the economy. The increa...

Q: Suppose that you, Jennifer, and Yixiu constitute the market for CDs. Your demand for CDs is illustra...

A: It is given that the market demand for CD’s comprise of three individuals:You depicted from D1,Jenni...

Q: Confirmation of my true or false questions, thanks for your help!1. A theory is an explanation of th...

A: 1) A theory is an explanation of the casual mechanism behind observed phenomena. Thus, the statement...

Q: How did china's economy grow quickly overtime during 1975-2005?

A: Answer -  China economy grow quickly during 1975-2005 due to following reason-1. Large Human resourc...