Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 200 computers are produced per week. Given this information, the marginal product of the third worker is
A. 60 computers per week.
B. 50 computers per week.
C. 210 computers per week.
D. 70 computers per week.
Answer: B
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In the short-run, a tax increase
A) shifts the DD curve to the right, increases output and appreciates the currency. B) shifts the AA curve to the left, increases output and depreciates the currency. C) shifts the AA curve to the left, decreases output and depreciates the currency. D) shifts the AA curve to the left, increases output and appreciates the currency. E) shifts the DD curve to the left, decreases output and depreciates the currency.
Much of the credit for prevention of a financial market meltdown after "Black Monday" (October 19, 1987 ) must be given to the Federal Reserve System and then-chairman
A) Paul Volcker. B) Alan Blinder. C) Arthur Burns. D) Alan Greenspan.
When the government enacts policies to redistribute income,
a. the objective is to enhance efficiency and a side effect is that the allocation of resources becomes more equal. b. the objective is to enhance efficiency and a side effect is that the allocation of resources becomes less equal. c. the objective is to enhance equality and a side effect is that the allocation of resources becomes more efficient. d. the objective is to enhance equality and a side effect is that the allocation of resources becomes less efficient.
Refer to the graph shown. If this monopolist were forced to set price equal to average cost, it would charge a price of:
A. $8. B. $3. C. $12. D. $2.