Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 210 computers are produced per week
Given this information and the fact that the firm receives $200 per computer, the marginal revenue product of the third worker is A) $4,200.
B) $12,000.
C) $10,000.
D) $14,000.
B
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Suppose the Fed purchases $1 million in bonds in the open market. Explain how the money supply can increase by more than $1 million
What will be an ideal response?
The horizontal axis on a time-series graph
A) measures the variable being graphed. B) measures units of time such as years. C) runs parallel to the y-axis. D) measures how the variable being graphed changes.
To maximize profits, a monopolist that engages in price discrimination must allocate output in such a way as to make identical the ____ in all markets
a. ratio of price to marginal cost b. ratio of marginal cost to marginal utility c. ratio of price to elasticity d. marginal revenue e. none of the above
Obstacles that make it difficult or impossible for would-be producers to enter a market are known as:
a) Entry tariffs. b) Entry blockades. c) Monopoly profits. d) Barriers to entry.