Question 13
Question 13 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
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addressing the over-consumption of demerit goods and the under-consumption of merit goods

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marginal revenue product (MRP) theory: definition and calculation of marginal revenue product, derivation of an individual firm’s demand for labour using marginal revenue product