If a pet grooming salon hires an additional groomer, that worker can groom 4 additional pets per day. The average grooming fee is $25. The most the salon would be willing to pay that groomer is
A. $4 per day.
B. $25 per day.
C. $100 per day.
D. indeterminate with the given information.
Answer: C
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The table has the marginal products for workers at? Bart's Bats, a baseball bat factory. Using the above? table, if the price of a bat is? $8, then the value of the marginal product of labor of the fourth worker is
A. ?$1.375. B. $40. C. $0.625. D. 5 bats. E. None of the above answers is correct.
The most appropriate type of labor market to analyze
a. is the world market b. is the national market c. is a regional market d. is a local market e. depends upon the purpose of the analysis
When a tax is levied on the sellers of a good, the
a. supply curve shifts upward by the amount of the tax. b. quantity demanded decreases for all conceivable prices of the good. c. quantity supplied increases for all conceivable prices of the good. d. None of the above is correct.
Sarah takes care of her son instead of sending him to a day care which charges $12,000 annually. Which of the following will happen if she puts him into a day care?
A) The country's GDP will increase by $12,000. B) The country's GDP will remain unchanged. C) The country's GDP will decrease by $12,000. D) The country's trade deficit will increase by $12,000.