Refer to the data. The marginal product of the fourth worker:
Answer the question on the basis of the following information:
A. is 5.
B. is 7.
C. is 7 1 / 2 .
D. cannot be calculated from the information given.
A. is 5.
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Which of the following is not an example of a practice that facilitates "tacit collusion"?
A) Uniform prices charged by the firms in a particular industry. B) Advance notice of price changes by one or more of the firms in an industry. C) The use of most-favored-customer clauses. D) The formation of a cartel.
What was not one of the government's strategies to pull the nation out of the Great Depression?
a. Large subsidies for manufacturing companies. b. Sizable increases in employment of emergency workers. c. Development of the Federal Deposit Insurance Corporation (FDIC). d. Institute price controls for farmers.
Trade between two nations is complicated by
a. the variability in exchange rates of the respective nation's currencies. b. different production techniques in the nations. c. the age and experience of the respective nation's diplomats. d. the variability in climate between the nations.
The above figure shows a graph of the market for pizzas in a large town. At a price of $5, there will be
A) excess demand. B) excess supply. C) equilibrium. D) zero demand.