At the Pampered Pet Salon the marginal products of the first, second, and third workers are 20, 16, and 10 dogs washed, respectively. The total product (number of dogs washed) of the first two workers is
A. 16.
B. 20.
C. 36.
D. 46.
Answer: C
You might also like to view...
In Europe during the 14th century, the Black Plague killed 24 million people or close to 37 percent of the population. How would this affect the production possibilities curves for the countries of Europe at that time?
a. The production possibilities curves for these countries would have shifted outward. b. The production possibilities curves for these countries would have shifted inward. c. The production possibilities curves for these countries would have been unaffected. d. This would have been illustrated by a movement along the production possibilities curves for these countries, but it would not have shifted them.
Waste produced by a power plant that harms local fishing industries is an example of a:
A. demerit good. B. limited liability. C. negative externality. D. private good.
Which of the following would provide the best evidence that a commodity is being produced under conditions of perfect competition?
A) The supply curve is perfectly inelastic. B) The demand curve facing any one producer is perfectly elastic. C) The production of the commodity is large. D) The profits of producers are low.
Identify the 6 main provisions of the Patient Protection and Affordable Care Act (ACA)
What will be an ideal response?