Using the data in the above table, what is the average product of three employees?
A) 2 pizzas per hour
B) 3 pizzas per hour
C) 4 pizzas per hour
D) 12 pizzas per hour
C
You might also like to view...
If the producer is at combination B as shown in Table 3-2, the opportunity cost of increasing corn production by 1 unit is
A. 29 units of cotton. B. 5 units of cotton. C. 12 units of cotton. D. 4 units of cotton. E. 1 unit of cotton.
If whole tomatoes were money, which of the following functions of money would be the hardest for tomatoes to satisfy?
A) medium of exchange B) store of value C) certificate of gold D) unit of account
Under a flexible exchange rate, an increase in the domestic money supply leads to
A) a devaluation of the domestic currency. B) a revaluation of the domestic currency. C) a depreciation of the domestic currency. D) an appreciation of the domestic currency.
Barometric price leadership exists when
a. one firm in the industry initiates a price change and the others follow it as a signal of changes in cost or demand in the industry. b. one firm imposes its best price on the rest of the industry. c. all firms agree to change prices simultaneously. d. one company forms a price umbrella for all others. e. the firms are all colluding.