Based on the production data for Pat's Pizza Parlor in the above table, the marginal product of the 4th worker is ________ pizzas
A) 5
B) 8
C) 10
D) 45
B
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What could cause a decrease in the price level and simultaneously an increase in GDP similar to the 1920s in the United States?
A) a decrease in interest rates B) an increase in interest rates C) a decrease in consumer confidence D) an increase in productivity
Taco Bell produces both tacos and burritos because when it does so, Taco Bell experiences
A) economies of scope. B) decreasing scope of costs. C) increasing normal profit. D) economies of scale.
A firm produces 1000 units per week. It hires 10 full-time workers (40 hours/week each) at an hourly wage of $20 . Raw materials costs $5 per unit. Rent for the factory is $1,500 per week. What are the overall costs for the week?
a. total variable cost is $5,000 . total fixed cost is $1,500; total cost is $6,500 b. total variable cost is $13,000 . total fixed cost is $9,500; total cost is $22,500 c. total variable cost is $13,000 . total fixed cost is $1,500; total cost is $14,500 d. total variable cost is $5,000 . total fixed cost is $9,500; total cost is $14,500
The marginal cost of a dollar of loanable funds is not
a. the interest rate b. the same as the marginal physical product of capital c. a measure of the marginal cost of capital d. equal to the marginal revenue product of capital at the firm's profit-maximizing quantity of loanable funds e. the change in a firm's total cost that results from adding one more dollar of loanable funds to production