Table 21.1Units of LaborUnits of Output00115235345452With which unit of labor do diminishing marginal returns first appear in Table 21.1?
A. The first.
B. The second.
C. The fourth.
D. The third.
Answer: D
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Using the data in the table above, if the price of a stapler is $5, then there is ________ of staplers, and the quantity of staplers demanded ________ the quantity of staplers supplied
A) a shortage; is greater than B) a surplus; is less than C) a shortage; is less than D) a surplus; is greater than E) neither a surplus nor a shortage; equals
Evaluate the following statement. The Cournot model basically assumes that the sole decision of each firm in a duopoly is one of determining how much to produce not which price to set
What will be an ideal response?
Open-market purchases cause a(n) _____ in interest rates and a(n) _____ in real GDP in the short run
Fill in the blank(s) with correct word
A decrease in the expected price level shifts short-run aggregate supply to the
a. right, and an increase in the actual price level shifts short-run aggregate supply to the right. b. right, and an increase in the actual price level does not shift short-run aggregate supply. c. left, and an increase in the actual price level shifts short-run aggregate supply to the left. d. left, and an increase in the actual price level does not shift short-run aggregate supply.