Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 5th laborer?
A) 8 cabinets
B) 7 cabinets
C) 6 cabinets
D) 4 cabinets
Answer: B
You might also like to view...
Which of the following is NOT a defining characteristic of perfectly competitive industries?
A) many buyers and sellers B) unrestricted entry and exit C) consumer knowledge about prices charged by each firm D) higher prices being charged for certain name brands
The income transferred by the government from a citizen who is earning income to another citizen is referred to as:
a. fiscal spending. b. transfer payment. c. budgetary allowance. d. taxation. e. internal debt.
Government bond:
What will be an ideal response?
What should be the degrees of freedom (df) for fixed effects estimation if the data set includes ‘N' cross sectional units over ‘T' time periods and the regression model has ‘k' independent variables?
A. N-kT B. NT-k C. NT-N-k D. N-T-k