At Phil's Pretzel Stand, we found the following:4 laborers produced 66 pretzels5 laborers produced 76 pretzels6 laborers produced 85 pretzels7 laborers produced 88 pretzelsWhat was the marginal physical product of the seventh laborer?

A. 9 pretzels
B. 3 pretzels
C. 10 pretzels
D. none of these due to insufficient information


Answer: B

Economics

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Publicly available data on production costs and box office revenues reflect that:

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In a perfectly competitive market, a given short-run equilibrium cannot persist into the long run unless the firms are earning (suffering)

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Economics

The Bureau of :Labor Statistics has been compiling an experimental CPI for the elderly, called CPI-E

a. True b. False

Economics