Refer to the above table. What does the marginal revenue product equal when 27 workers are hired a week?
A. $8
B. $16.25
C. $216
D. $1040
Answer: D
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Painters who paint water towers earn higher wages relative to painters who paint houses because
A) painting water towers is more risky than painting houses. B) the tower painters' union is probably more powerful than the house painters' union. C) the demand for tower painters is greater than the demand for residential painters. D) the supply of water tower painters exceeds the supply of house painters.
When the inflation rate is expected to increase, the ________ for bonds falls, while the ________ curve shifts to the right, everything else held constant
A) demand; demand B) demand; supply C) supply; demand D) supply; supply
Figure 7-6
Which of the lines in Figure 7-6 represents a typical average fixed cost curve?
A. 1 B. 2 C. 3 D. 4
The company that manufactures Screaming Chocolate Zonkers breakfast cereal finds that its sales collapse, it is forced into bankruptcy, and it defaults on its bonds, as a result of information on the filthy conditions in its factory, which had long
been known to management, leaking out to the general public. This incident is best thought of as an example of A) symmetric information in the financial markets. B) asymmetric information in the financial markets. C) moral hazard in the financial markets. D) the generally poor state of sanitation in the food-processing industry in the United States.