From the information in the above table, calculate the marginal factor cost of the third worker.
A. $18.00
B. $36.00
C. $12.00
D. $24.00
Answer: A
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Two economists created fake resumes with either common African-American names such as Lakisha and Jamal or common white names such as Emily and Greg. After sending them to potential employers with "Help Wanted" ads in Boston and Chicago newspapers, they found that
a. black employees earned 50 percent less than white employees in Chicago but that blacks and whites had similar wages in Boston. b. black employees earned 50 percent less than white employees in Boston but that blacks and whites had similar wages in Chicago. c. job applicants with white names received 50 percent more phone calls from interested employers. d. job applicants with white names received 7 percent more phone calls from interested employers.
As interest rates ________, a firm would have to pay more now to purchase the same number of future dollars.
A. remain unchanged B. fall C. rise D. Interest rates have no bearing on the payment for future dollars.
Which of the following occurred during the 20th century?
(a) The total U.S. population increased. (b) The percentage of foreign-born residents decreased, on average. (c) The median age fell. (d) All of the above occurred during the 20th century.
If real GDP increases by 5 percent and the population increases by 10 percent during the same period, real GDP per capita
a. increases. b. decreases. c. remains unchanged. d. increases if prices rise.