A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop's productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?
a. 8
b. 12
c. 16
d. None of the above is correct.
b
Economics
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The money supply is $10 million, currency held by the nonbank public is $2 million, and the reserve—deposit ratio is 0.2. Bank deposits are equal to
A) $1.6 million. B) $2 million. C) $4 million. D) $8 million.
Economics
Other things being equal, a ____ supply of workers tends to ____ real wages
a. larger; decrease b. smaller; decrease c. larger; increase d. smaller; not change
Economics
The neoclassical perspective places more emphasis on
a. supply. b. demand. c. aggregate supply. d. aggregate demand.
Economics
If output is increased beyond the point where total profit is maximized,
a. marginal profit will be zero. b. marginal profit will be negative. c. marginal profit will be positive. d. MR > MC.
Economics