Refer to the table above. What is the marginal product of the third worker?
A) 60 pairs of shoes
B) 68 pairs of shoes
C) 112 pairs of shoes
D) 180 pairs of shoes
B
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Generally, any human decision is
A) speculative. B) perfectly informed. C) irrational at its base. D) good.
A person's willingness to work depends on whether the labor market is competitive or monopsonistic
Indicate whether the statement is true or false
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
A change in a relevant factor other than the price of the good itself causes a ________ the demand curve, and a change in a good's own price causes a ________ the demand curve
A) shift of; shift of B) shift of; movement along C) movement along; shift of D) movement along; movement along