At the Larson Bakery the marginal products of the first, second, and third sales clerks are 20, 17, and 11 customers served, respectively. The total product (number of customers served) of the three sales clerks is
A. 11.
B. 40.
C. 46.
D. 48.
Answer: D
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Suppose The United Bank of Glassen has loaned $250 to Mr. Joseph Langdon for his business. Mr. Langdon repays the loan with a check written against his own bank, Rexan Bank. Which of the following is likely to happen as a result of this transaction? a. The reserves at the United Bank of Glassen will fall
b. The reserves at Rexan Bank will increase. c. Checkable deposits at Rexan Bank will increase. d. Rexan Bank will make more loans than before. e. The reserves and checkable deposits of Rexan Bank will decrease.
Negative externalities lead to over supply in a market
Indicate whether the statement is true or false
If total cost is €500 when output is zero and €1,000 when output is 10 and €1400 when output is 20, then fixed cost is equal to:
(a) €1000. (b) €1400. (c) €900. (d) €500.
In the above figure, suppose the economy is in short-run equilibrium at point D. Which of the following is the best policy option for the Fed?
A. open market purchase of government securities B. Increase the required reserve ratio. C. Increase taxes. D. Increase government spending.