Refer to the below table. The marginal product of the third unit of the resource is:
A. 3
B. 4
C. 5
D. 6
B. 4
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The distinguishing feature that determines whether an analysis is classical or Keynesian is
A) the speed of price adjustment. B) the slope of the aggregate demand curve. C) the degree of monopoly power in the economy. D) the assumption about the transmission mechanism of monetary policy.
Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000 . What is the firm's fixed costs?
a. $9,000 b. $10,000 c. $11,000 d. $12,000
Which of the following statements about the foreign exchange market is not true?
a. The exchange rate setting depends on the exchange rate regime a nation chooses. b. When a central bank intervenes in the foreign exchange market, it also affects the nation's monetary base. c. The elasticities of an economy's supply and demand for foreign exchange determine the exchange rate volatility. d. Flexible exchange rates increase the business risks associated with exchange rate movements. e. Fixed exchange rates decrease the business risks associated with changes in a nation's money supply.
Refer to the diagram. Which of the following supply and demand shifts portray the long-run problem that farms face?
A. S to S and D to D
B. S to S and D to D
C. S to S and D to D
D. S to S and D to D