Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00.Number ofworkersCoffee(cups/hour)00125245360470575 The marginal product of the fourth worker is ________ cups of coffee per hour.
A. 60
B. 17.5
C. 10
D. 70
Answer: C
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The process by which the stock of equipment and structures available to an economy is increased by investment is referred to as:
A) output expansion. B) autonomous growth. C) capital accumulation. D) investment growth.
A monopoly firm is the only seller of a good or service that
A) does not need to be advertised. B) has no close complements. C) does not have a close substitute. D) has a perfectly elastic demand.
A closed shop is a business enterprise in which
A) employees cannot belong to a union when they are employed, and cannot join a union and keep working there. B) employees must join the union to maintain employment. C) employees must belong to the union before they can be employed. D) employees cannot belong to the union when they are hired, but may join the union later and keep their jobs.
Bond prices and interest rates:
a. are interrelated b. have no relationship to one another c. rise or fall in tandem d. none of these choices