If Marco's output per hour in 2000 was 200 and his output per hour in 2004 was 220, how much would his productivity be in 2004?
A. 20
B. 200
C. 205
D. 220
D. 220
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Describe what will happen to an economy in which the money supply consists of gold coins when a major new source of cheap gold is discovered
SeaSide Industries currently spends 5 percent of its sales on advertising. Suppose that the elasticity of advertising for Seaside is 0.2. Determine the optimal profit margin over price (P ? MC)/P.
A. 4 percent B. 25 percent C. 10 percent D. None of the answers is correct.
When purchasing a product with a credit card, the benefit of the product will be experienced in the ________, and the cost will be experienced in the ________.
A. present; present B. present; future C. future; present D. future; future
Opportunity cost can best be defined as
A. the value of the next-highest-ranked alternative. B. the value of all of the alternatives sacrificed. C. the interest cost of financing a business loan at the bank. D. There is no real definition for opportunity cost.