The Upstart Company has the following production function.
If the company hires 4 workers, which of the following could be the real wage rate?
A. 6
B. 4
C. 8
D. 2
Answer: B
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A difference between inventory investment and fixed investment is that
A) fixed investment is never unplanned. B) fixed investment is never planned. C) inventory investment is never unplanned. D) unplanned inventory investment is always zero.
Use the money market to answer this question. Suppose there is a reduction in income. First, briefly explain what effect this will have on the interest rate. Second, explain all types of policies the central bank could implement to prevent this reduction in income from affecting the interest rate
What will be an ideal response?
That which we forgo, or give up, when we make a choice or decision is called
A. marginal cost. B. real cost. C. opportunity cost. D. out-of-pocket cost.
Marginal resource cost is:
A. The increase in variable costs resulting from producing one more unit of output B. The increase in fixed costs resulting from producing one more unit of output C. The same as the marginal cost of the product D. The same as the resource price when a firm is acquiring the resource in a purely competitive market