Table 21.1Units of LaborUnits of Output00115235345452If a fifth unit of labor was added to Table 21.1, its MPP would most likely be
A. 7.
B. 0.
C. Greater than 7.
D. Less than 7.
Answer: D
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The value of money changes over time because:
A. there is an opportunity cost of waiting for money in the future. B. people prefer to save money rather than spend it immediately. C. the government collects taxes. D. none of the reasons listed here cause the value of money to change over time.
What is the future value of $750 one year from today if the interest rate is 2.5 percent?
a. $766.50 b. $768.75 c. $770.23 d. None of the above are correct to the nearest cent.
Refer to Figure 6.3. On this graph, the total surplus of the market is maximized when the price is at point:
A. A. B. B. C. zero. D. D.
A monopolistically competitive firm in long-run equilibrium:
A) will make negative profit. B) will make zero profit. C) will make positive profit. D) Any of the above are possible.