Based on the production data for Pat's Pizza Parlor in the above table, the average product of labor when 4 workers are hired is ________ pizzas
A) 8
B) 10
C) 11.25
D) 45
C
Economics
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What are some of the problems with using the leading indicators to forecast recessions? If you were a policymaker, would you rely on them?
What will be an ideal response?
Economics
In the long run, a monopolistic competitor will
a. always produce at minimum efficient scale b. produce too little output to achieve minimum cost per unit c. use limit pricing to forestall competition d. earn economic profits e. standardize its product
Economics
Explain the difference between comparative advantage and absolute advantage. Give an example of each.
What will be an ideal response?
Economics
Business cycle peaks are always followed by the _____ phase.
Fill in the blank(s) with the appropriate word(s).
Economics