The Package Store hires workers to wrap packages. The store sells this service for $5. The marginal revenue product of this store's fifth worker is $50. The marginal product of the fifth worker is
A. 0.01 package.
B. 1 package.
C. 10 packages.
D. indeterminate from this information.
Answer: C
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When P = $65, the quantity demanded of a good is 80 units, and the quantity supplied of the good is 40 units. For every $10 increase in the price of this good, quantity demanded falls by 10 units and quantity supplied rises by 10 units. The equilibrium price of this good is ___________and the equilibrium quantity of this good is _________ units
A) $55; 30 B) $75; 50 C) $75; 70 D) $85; 50 E) $85; 60
In the United States, major money policy decisions are made by the ______.
a. 12 banks that comprise the Fed b. banks that have ownership of the Fed c. president of the United States with approval from the Senate d. Federal Reserve Board of Governors and the FOMC
The "law of demand" indicates that if SIUC increases the price of tuition, all other things remaining the same Question 29 options:
A. the quantity of classes demanded will decrease at SIUC B. the demand for classes will decrease at SIUC C. the demand for classes will increase at SIUC D. the quantity of classes demanded will increase at SIUC
Which of the following will NOT cause a shift in the demand for portable power banks?
A. a change in income B. a change in the price of portable power banks C. a change in taste D. a change in the price of smartphones