Which of the following lists gives factors that increase labor productivity?
A) expansion of human capital, labor force increases, and discovery of new technologies
B) expansion of human capital, population growth, and discovery of new technologies
C) saving and investment in physical capital, and wage increases
D) labor force increases and wage increases
E) saving and investment in physical capital, expansion of human capital, and discovery of new technologies
E
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The figure above shows Ilene's budget line. The price of a can of cat food is $2. The price of a can of dog food
A) is $1.60. B) is $4.00. C) is $5.00. D) cannot be determined without more information.
Under monopoly
A. too small a share of society’s resources is used to produce the monopolized commodity. B. Adam Smith’s invisible hand assures efficient resource allocation. C. too large a share of society’s resources is being used to produce the monopolized commodity. D. MC > MU.
Given the following data, what is the distance from the origin to the point where the total expenditures (TE) curve cuts the vertical axis? C = $400 + 0.75Yd I = $120 G = $270
A) $670 B) $790.75 C) $790 D) $400 E) ?$390
Skateboards are produced according to the production function, q = 10K0.25L0.5 - L. Given that capital is fixed at 16 units in the short run, what quantity of labor is needed to produce 36 units of output?
A) L = 4 B) L = 2 C) L = 25 D) L = 16