Use the following table to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product00102002060030720408205090060980The marginal product of the 30th input item is
A. 24.
B. 120.
C. 12.
D. 200.
Answer: C
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The policy of running deficits and only gradually increasing taxes later to service the debt is referred to as
A) tax-smoothing. B) Ricardian equivalence. C) generational accounting. D) crowding out.
________ refers to reductions in a firm's costs that result from an increase in the size of an industry
A) Autarkial dominance B) External economies C) Streamlining D) Internal economies
If a perfectly competitive firm is producing an output level for which MR equals $5, MC equals $6, and ATC equals $4, the firm
a. is earning a profit but should reduce output. b. is earning a profit and should increase output. c. is suffering a loss and should reduce output. d. is suffering a loss but should increase output.
Small investors face
A) high transactions costs in financial markets. B) low transactions costs in financial markets. C) high transactions costs in financial intermediaries. D) high information costs in financial intermediaries.