The production function in the table below exhibits decreasing marginal returns to capital over what output range? Production Function for Good XL*KQMPK=(?Q/?K)APK=(Q/K)LaborCapitalOutputMarginal Product of CapitalAverage Product of Capital900----910575.75.7092032426.716.2093065733.3B9401,07241.526.809501,52445.230.489601,97645.232.939702,39141.534.169802,72433.334.059902,991A33.2391003,0485.730.4891103,016-3.227.4291202,945-7.124.54
A. Between 0 and 1,524
B. Between 3,016 and 2,945
C. Between 0 and 2,991
D. Between 2,391 and 3,048
Answer: D
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The labor force in country XYZ is 10,000,000 and the number of employed is 7,000,000. Calculate the number of unemployed and the unemployment rate
What will be an ideal response?
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Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Considering both country's production possibilities frontiers, we can infer that Country A will specialize in:
A. trucks, and be willing to accept no less than 5 cars for each truck.
B. cars, and be willing to give no more than 5 cars for each truck.
C. trucks, and be willing to accept no more than 5 cars for each truck.
D. cars, and be willing to give no less than 5 cars for each truck.