Hershey Chocolate Factory pays a money wage rate equal to $30 per hour and sells its candy bars for $1.50 each. Hershey Chocolate Factory should hire labor until an additional unit of labor produces ________ candy bars an hour
A) 30 B) 20 C) 1.5 D) 45 E) 10
B
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Refer to Scenario 13.1. If Dean gets to set the agenda, he will pit ________ in the first round to assure that ________ wins the first round vote
A) calamari and jalapeno poppers; jalapeno poppers B) calamari and potato skins; potato skins C) potato skins and calamari; calamari D) jalapeno poppers and potato skins; jalapeno poppers
If the cost of labor increases the isocost line will
A) stay the same. B) shift outward in parallel fashion. C) rotate inward around the point where only capital is employed in production. D) shift inward in parallel fashion.
The monetarist and the Keynesian approaches are two competing theories of aggregate demand.
Answer the following statement true (T) or false (F)
A decrease in total revenue will result if
A. demand is elastic and price decreases. B. demand is unitary elastic and price decreases. C. demand is inelastic and price increases. D. demand is elastic and price increases.