Based on the information in the above table, the Marginal Revenue Product of the 3rd worker is $_____. (Enter only the value, not the dollar sign or decimal).

Check each of the following that would most likely put a business in a situation where a price decrease on their product would lead to a decrease in Total Revenues:

When a tax is imposed on a supplier and demand is perfectly inelastic, there will be _____ in equilibrium quantity and _____ in equilibrium price.

When consumers’ incomes increase from $3,000 to $3,200 per month, quantity demanded of movie tickets decreases from 6,000 to 5,000 tickets per day. The income elasticity of demand for movie tickets is _____ and so movie tickets are a(n) _____ good.

The Law of Diminishing Returns suggests that if you add more _____ without changing the number of _____, then the average productivity of all workers will go down.

When the government sets a price floor in a free market, the result is likely to be _____ of output in the market.

A perfectly competitive market has a market price of $23. At an output quantity of 20 units, marginal cost is minimized at $19. At an output quantity of 33 units, marginal cost is $23. At an output quantity of 42 units, marginal cost is $29. What is the proft maximizing quantity of output?

Based on the information in this table, what is Price when TC = $865? (Enter only the answer value, exclude Price =, just enter the number.)

A(n) _____ in the price of a substitute for the product being produced will _____ the marginal revenue product of its input factors. (Check all that apply.)

Which of the following theories of oligopoly is most like monopolistic competition?