If the marginal physical product of the fourth acre of land used were 10, the MPP of the fifth acre were 6, the MPP of the sixth acre were 2, the MPP of the seventh acre were 0, and the MPP of the eighth acre were -3, what is the maximum number of acres of land that would be used?
A. 4
B. 5
C. 6
D. 7
C. 6
You might also like to view...
Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and a decrease in demand are represented by a movement from
A) point d to point a. B) point b to point d. C) point a to point c. D) point d to point b.
Amber Crombie is a stay-at-home mom while her husband Fitch works two jobs. What can we clearly conclude?
A) Amber Crombie is unemployed. B) Fitch is employed. C) Amber Crombie is exploited. D) Fitch is exploited. E) All of the above are true.
In order to reduce the undesirable effects of moral hazard, an insurance company can:
A. reject the renewal of policies of those people with really bad records. B. classify clients into different types according to their history. C. introduce a deductible. D. All of the statements associated with this question are correct.
Which of the following statements is true?
A. Every game has a dominant strategy. B. People never choose the strategies that result in Nash equilibrium. C. Not every game has a dominant strategy. D. Every game has multiple Nash equilibria.