Based on the table below and the principle of diminishing returns to capital, then total packages wrapped when a fourth machine is installed must be less than ________ packages. Number of (Identical) MachinesTotal Packages Wrapped110,000213,000315,000
A. 2,000
B. 16,000
C. 15,000
D. 17,000
Answer: D
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Quantitative easing is likely to lead to a(n) ________
A) increase in unemployment rate B) decrease in the price level C) increase in the federal funds rate D) decrease in the federal funds rate
The graph below represents the market for walnuts. Identify the values of the marginal benefit and the marginal cost at the output levels of 2,000 pounds, 4,000 pounds, and 6,000 pounds
At each of these output levels, state whether output is inefficiently high, inefficiently low, or economically efficient.
One country will have a comparative advantage over another if its production possibilities a. frontier is higher
b. curve has a different slope. c. curve lies closer to the origin. d. curve lies farther from the origin.
High marginal tax rates will
What will be an ideal response?