In the above table, the marginal product of the 7th worker is 6. What is the total product when 7 workers are employed?
A) 68
B) 70
C) 72
D) 76
B
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A typical firm in a cartel will hold which of the following attitudes?
A) If everyone cheats, I'm better off, and so is everyone in the cartel. B) If I alone cheat, I'm better off; if everyone cheats, I'm worse off. C) I can never do better for myself than following agreed-upon cartel rules. D) If I suspect others are planning to cheat, I'll do best for myself by deciding not to cheat.
Interest can be defined as
A) the amount of funds loaned to a creditor. B) the participation of a shareholder in the operations of a firm. C) the return paid to owners of capital. D) the return above opportunity cost paid to owners of a firm.
People from which nation were most likely to come to colonial North America as indentured servants?
a. England. b. Liberia. c. Germany. d. France.
Most goods are:
A. nonrival in consumption. B. exclusive. C. rival in consumption. D. public goods.