Refer to the table below. Marginal product is zero when the total product is:
The question is based on the following table that provides information on the production of a product that requires one variable input.
A. 0
B. 5
C. 56
D. 58
D. 58
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If people suddenly start to expect the price of oil to rise less rapidly than the interest rate, the demand for oil ________ and the supply of oil ________
A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases
Which of the following observations is true?
a. Increase in taxes shifts the consumption schedule upward. b. Tax reductions increase equilibrium GDP. c. Taxes reduce total spending directly. d. Taxes do not have a multiplier effect on equilibrium GDP.
Going to the dentist would be counted in GDP as:
A. crowns and fillings. B. insurance utilization. C. a service. D. a measure of welfare.
The transactions demand for money is the demand to hold money to
A. store one's wealth. B. meet unplanned expenditures. C. purchase bonds when interest rates increase. D. make regular, expected purchases.