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. 35 cookies
C. 50 cookies
D. 15 cookies
Answer: D
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In the figure above, the length of the double sided arrow is the
A) consumer surplus. B) deadweight loss. C) producer surplus. D) economic loss per unit. E) economic profit.
Three landscapers, Allen, Betty, and Christina, are visiting the lawn and garden supply store. Allen is choosing between a mower with a 40-inch blade and a mower with a 28- inch blade. Betty is picking up her mower, which was in for scheduled maintenance. Christina is putting up a For Sale sign advertising her equipment and list of customers. Who is operating in the short run?
a. Allen and Betty b. Betty and Christina c. Allen only d. Betty only e. Christina only
If the euro–pound exchange rate increased from €1.1 per pound in 2009 to €1.27 per pound in 2012, it implies a depreciation in the value of the pound from 2009 to 2012
a. True b. False Indicate whether the statement is true or false
A measure of the burden of continual deficit financing over time is the ratio of
A. The deficit to the debt. B. The deficit to the GDP. C. Tax revenues to the debt. D. The debt to the GDP.