What is the marginal propensity to consume? Explain. What is marginal product, and what does it mean if it is diminishing? Suppose Q = 1000, Q = 4000 - 200P, what is the marginal revenue? If PX=$60,000, MPX=300, and MRQ=$250, the marginal revenue product of X equals: A. $75...
What is the difference between marginal benefits and marginal costs? What happens when marginal cost of producing a product continues to be greater than marginal revenue of a product? If PX=$60,000, MPX=300, and MRQ=$250, the marginal revenue product of X equals: ...
If PX=$60,000, MPX=300, and MRQ=$250, the marginal revenue product of X equals: A. $75,000. B. 300. C. $250. D. $60,000. What is the the marginal revenue (MR) function for this demand function: Q=90-4.6P? What is marginal product, and...