Refer to the table above. What is the marginal product of the sixth worker?
A) 20 pairs of shoes
B) 46.7 pairs of shoes
C) 60 pairs of shoes
D) 280 pairs of shoes
A
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Islamic economics promotes the organization of production through large partnerships
a. True b. False
The relationship between the quantity of real balances demanded and the rate of interest (called the demand for money curve) will ____ when GDP increases because _____.
A) increase (shift right); more transactions balances are needed to make purchases and to hold between pay periods B) increase (shift right); more asset balances are needed for saving or precautionary reasons C) decrease (shift left); fewer transactions balances are needed to make purchases and to hold between pay periods D) decrease (shift left); lower asset balances are needed for saving or precautionary reasons
Which statement is false?
A. The monopolist's demand and marginal revenue curves are two separate curves. B. The monopolist can sell more output only by lowering price. C. The monopolist produces at the minimum point of its ATC curve. D. None of these statements are false.
The demand curve for the product of a perfectly competitive firm is
A) perfectly elastic. B) perfectly inelastic. C) elastic at high prices and inelastic at low prices. D) identical to the elasticity of demand on the market demand curve.