EC355 Lecture Notes - Lecture 20: Pon1

23. In the short run, when L=9, the marginal product of labour is: A) 1 9 B) C )3 D) 1/9 E) 1/3 F) 13 G) 4/3 H) 7/3 D) 3/4 J) 3/7

23. By how much is the profit of the monopolist reduced by this tax? (A) $176 (B) $224 (C) $308 (D) $336 (F) $412 (G) $448 (H) $484 (1) $512 (E) $348 (J) none of the above

23. At the point on the demand curve where Q = 480, the elasticity of demand, expressed as a positive number, is: A) 1/4 B) 1/3 C) 1/2 D) 2/3 F) 1% G) 2 H)3 1) 4 J) 5