Refer to the information provided in Figure 7.3 below to answer the question(s) that follow. 
Figure 7.3Refer to Figure 7.3. The average product of the first worker is ________ yards raked.
A. 4
B. 10
C. 14
D. 27
Answer: B
You might also like to view...
The current Social Security System surplus of revenues relative to expenditures is used to purchase
a. U.S. Treasury bonds. b. bonds issued by domestic corporations. c. U.S. stock. d. U.S. and foreign stock.
Inventory levels unexpectedly rise and as a result firms reduce the level of production. Which of the following is consistent with these two occurrences?
A) TP is greater than TE. B) TP is less than TE. C) TP is equal to TE. D) TP is equal to TE minus the rise in inventories above the optimum inventory level. E) none of the above
On a given linear demand curve, as price increases demand becomes:
A. more negative. B. more variable. C. more elastic. D. less elastic.
Which of the following is NOT a feature of Sweezy oligopoly?
A. Each firm believes that rivals will cut their prices in response to a price reduction, but will not raise their prices in response to a price increase. B. The firms produce homogeneous products. C. There are few firms in the market serving many consumers. D. Barriers to entry exist.