The above figure shows the short-run production function for Albert's Pretzels. The average product of labor
A) increases first and then decreases.
B) decreases first and then increases.
C) decreases throughout.
D) increases throughout.
C
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For a steel manufacturing firm, overhead costs would include:
a. cost of iron ore. b. cost incurred in buying blast furnaces. c. insurance premiums of the firm. d. wages of the workers. e. cost of electricity for running the machines in the factory.
An increase in the money supply might indicate that the Fed had
a. purchased bonds to increase banks reserves. b. purchased bonds to decrease banks reserves. c. sold bonds to increase banks reserves. d. sold bonds to decrease banks reserves.
Using the rule of 70, if the GDP per capita growth rate in the United States is 4.4 percent, real GDP per capita doubles every:
A. 6.72 years. B. 15.91 years. C. 44 years. D. 65.6 years.
Which antitrust law prohibited firms from buying stock in competitors and from having directors serve on the boards of competing firms?
A) the Clayton Act B) the Securities and Exchange Act C) the Sherman Act D) the Robinson-Patman Act