Suppose the manager of a restaurant notices that when she has too many waiters on the floor for a shift that the waiters get in each other's way and fewer dinners are served. This is an example of
A. diminishing marginal inputs.
B. diminishing marginal workforce.
C. diminishing marginal product.
D. diminishing marginal utility.
Answer: C
You might also like to view...
Nonfinancial businesses in Germany, Japan, and Canada raise most of their funds
A) by issuing stock. B) by issuing bonds. C) from nonbank loans. D) from bank loans.
Which of the following is an in-kind transfer payment?
a. Medicaid b. Social Security c. workers' compensation d. unemployment insurance e. Temporary Assistance to Needy Families
Other things constant, how will a decrease in the wages of teenagers affect the market for fast food hamburgers?
a. The supply of fast food hamburgers will increase, leading to an increase in the price of hamburgers. b. The supply of fast food hamburgers will increase, leading to a reduction in the price of hamburgers. c. The supply of fast food hamburgers will decrease, leading to an increase in the price of hamburgers. d. The supply of fast food hamburgers will decrease, leading to a reduction in the price of hamburgers.
As a general rule, when an income tax is added to the basic macroeconomic model, what happens to the consumption schedule?
A. It will shift downward. B. It will shift upward. C. It will become flatter. D. It will become steeper.