At the Larson Bakery the marginal products of the first, second, and third sales clerks are 30, 27, and 21 customers served, respectively. The total product (number of customers served) of the three sales clerks is
A. 30.
B. 57.
C. 78.
D. 109.
Answer: C
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a. Is to show that these games usually go on for rounds and rounds b. Is to show the importance of the first mover being able to commit to an offer c. Is to show the importance of the second mover being able to commit to an offer d. Is to show the problems of prisoners dilemmas
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a. are related to demand for their services. b. include substantial economic rents. c. are high because of scarcity. d. All of the above are true.
When nominal interest rates are held below inflation rates, then households will have an incentive to
a. consume. b. save. c. purchase financial assets. d. postpone current consumption plans.
Which of the following nations experienced average rates of economic growth of a bit under 2% over the last 100 years or so?
a. Mexico b. Brazil c. the United States d. All of the above are correct.