单项选择题

Which of the following most accurately describes why firms under monopolistic competition face elastic demand for their products（）

A. High barriers to entry.
B. The availability of many complementary goods.
C. The availability of many close substitutes.

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单项选择题

Which of the following statements regarding the supply of labor is least accurate（）

A. The income effect of a wage increase is to decrease the amount of labor supplied.
B. Capital goods that increase productivity in the home can affect the supply of labor positively.
C. Other things equal, an increase in the wage rate will lead to an increase in the amount of labor an individual will supply.

单项选择题

Are the following two statements about the marginal revenue product (MRP) of a factor of production correct Statement 1: In a price taker market, the MRP of an input is the marginal product of the input multiplied by the price of the output it generates. Statement 2: If we compare any two productive inputs, the one with the higher MRP will earn greater economic rent. Statement 1 Statement 2（）①A. Correct Correct ②B. Incorrect Correct ③C. Correct Incorrect

A. ①
B. ②
C. ③