Refer to Scenario 1. The production function illustrated in the table:
A) incurs diminishing marginal returns beyond the first unit of labor.
B) incurs diminishing marginal returns beyond the second unit of labor.
C) incurs diminishing marginal returns beyond the third unit of labor.
D) does not incur diminishing marginal returns because marginal product is positive for each unit of labor employed.
A
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Which of the following uses of tax revenues collected by the government leads to increased capital deepening in the United States?
A) subsidizing airport construction in Seattle B) foreign aid given to Mexico to build new schools C) providing food to a nation suffering from a famine D) higher salaries for members of Congress
When determining her accounting profit, an entrepreneur would include
A) her foregone wages. B) her foregone interest. C) her foregone rent. D) all of the above. E) none of the above.
Exhibit 36-1 Bond FaceValueof Bond Price ofthe Bond Annual CouponPayment A $1,000 $850 $25 B $1,000 $950 $41 C $1,000 $1,100 $52 D $1,000 $1,100 $32 E $1,000 $1,000 $50 Refer to Exhibit 36-1. The yield on bond B is approximately
A. 4.1 percent. B. 4.3 percent. C. 0.04 percent. D. 17 percent.
The equilibrium outcome used in both the sequential and simultaneous move games is known as
a. The centrality equilibrium b. First mover equilibrium c. Nash equilibrium d. All of the above