In the above table, marginal product becomes negative when employing the
A. fourth worker.
B. second worker.
C. third worker.
D. fifth worker.
Answer: D
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What does unlimited liability mean?
A) The personal assets of the owners cannot be claimed if the business is bankrupt. B) Only employees can have a claim on the assets of the business. C) The owners of the business are personally responsible for paying expenses incurred by the business. D) Anybody with a liability against a firm can claim up to three times their liability.
A manager is participating in an auction where values or common or correlated and is not 100 percent certain of the value of the item. The manager ________ reduce their bid below their estimated value to ________ the winner's curse.
A) should; avoid B) should; enjoy C) should not; enjoy D) should not; avoid
During the Revolutionary War, the U.S. trade deficit increased because:
a. U.S. imports decreased, while U.S. exports increased. b. U.S. imports increased, while U.S. exports decreased. c. U.S. exports decreased more than U.S. imports decreased. d. U.S. imports decreased more than U.S. exports decreased.
Which of the following problems can not be alleviated by a gasoline tax?
a. traffic congestion b. traffic accidents c. the undersupply of goods that produce positive externalities d. air pollution