The table above shows the total product schedule for Rick's Lawn Service, a yard care company. When the 4th worker is hired, the ________ product of labor equals ________ lawns mowed
A) average; 60
B) average; 3.75
C) marginal; 3.75
D) marginal; 0
E) marginal; 15
B
You might also like to view...
The long-run average change in real GDP is known as
a. the trend. b. the long-wave cycle. c. the expansion. d. fundamental growth.
Which of the following "shareholder rights" plan when implemented provides all shareholders other than outsiders the right to purchase additional shares at a discount?
a. A flip-in poison pill b. A "crown jewels" defense c. A "white knight" bid d. A de-conglomeration
Suppose a regression with 51 observations returns a regression sum of squares of 56,000 and a total sum of squares of 250,000. The corresponding R2 is:
A. 0.671. B. 0.224. C. 0.345. D. 0.776.
Government imposed price controls often lead to
A) illegal trades of the good. B) the most efficient use of resources. C) the equilibrium solution in terms of price and quantity. D) maximization of profits.