Which Statement Is True

question 21

Multiple Choice

Which statement is true?

• A)Productivity is input per unit of output.
• B)The MRP curve for the perfect competitor is steeper than the MRP curve for the imperfect competitor.
• C)The firm will hire workers until the wage rate and the Marginal Physical Product (MPP)of the last worker hired are equal.
• D)Relative to the U.S.economy,the Chinese economy is more labor intensive and less capital intensive.

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Definitions:

Property Rights

The legal rights to use, control, and derive benefit from property, whether it is tangible or intangible.

Privately Owned

Something that is owned by individuals or corporations rather than the government or the public.

Pollution Liability

Legal responsibility for damages caused by releasing pollutants into the environment.

Pollution Emissions

The release of pollutants into the environment, typically from industrial activity, transportation, and other sources harmful to human health and the planet.