Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 50 cookies together. What is the marginal product of the 3rd worker?
A) 20 cookies
B) 15 cookies
C) 50 cookies
D) 35 cookies
Answer: B
You might also like to view...
Tariffs create deadweight losses and destroy wealth, whereas quotas increase cooperative surplus and create wealth
Indicate whether the statement is true or false
Why is the Big Mac a good indicator of purchasing power parity?
What will be an ideal response?
The maximum price that a buyer would be willing to pay for a good or service is also called:
A. the reservation price. B. the buyer-max price. C. the reserved max price. D. the opportunity cost.
A "specialist" is a
a. stockholder who finds buyers and sellers for specific stocks, but also operates outside of specific stock markets. b. person who works on the floor of the New York Stock Exchange and specializes in certain stocks. c. stockbroker who operates only in a particular regional stock market. d. stockbroker who specializes in the "third market."