At the Pampered Pet Salon the marginal products of the first, second, and third workers are 50, 36, and 25 dogs washed, respectively. The total product (number of dogs washed) of the first two workers is
A. 11.
B. 50.
C. 86.
D. 111.
Answer: C
Economics
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Refer to Table 13-1. What is the marginal revenue of the 3rd unit?
A) $6.50 B) $5.50 C) $1.83 D) $0.50
Economics
Since the 1970s, the M1 demand for money has been
A) relatively stable. B) unpredictable. C) constant. D) unmeasurable.
Economics
Which of the following might cause the demand curve for an inferior good to shift to the left?
a. a decrease in income b. an increase in the price of a substitute c. an increase in the price of a complement d. None of the above is correct.
Economics
Refer to Figure 14.3. To maximize total wages paid to workers, the labor union will agree to wage rate:
A) W0. B) W1. C) W2. D) W3. E) none of the above
Economics