Number of EmployeesTotal Output16211315418520Table 16.2 Table 16.2 gives the number of oil changes that can be performed at a local oil change business based on the number of employees hired. If the price of an oil change is $20, and workers get paid $90 per day, which of the following is equal to 3?
A. The optimal number of employees to hire
B. The marginal product of the fourth employee
C. The marginal revenue of the third employee
D. The marginal cost of the first oil change
Answer: B
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When the Fed buys $100 million of securities from a commercial bank the
A) required reserve ratio decreases. B) monetary base increases. C) bank's reserves decrease. D) bank is risking its depositors' money. E) money supply decreases.
Suppose A and B are substitute goods. Other things being equal, the demand curve for A will shift to the right when the price of B goes down
a. True b. False Indicate whether the statement is true or false
If the Gini coefficient is greater for the United Kingdom than for Japan, we can conclude that the
A. Distribution of income in the United Kingdom is closer to being equal than in Japan. B. Distribution of income in the United Kingdom is as equal as it is in Japan. C. Relative distributions of income in the two countries are the same. D. Distribution of income in the United Kingdom is less equal than in Japan.
Figure 17-10
Refer to . The amount of government revenue created by the tariff is
a.
B.
b.
E.
c.
D + F.
d.
B + D + E + F.