Number of WorkersUnits of Output001402903126415051656180Refer to the above data. Average product is at a maximum when:
A. two workers are hired.
B. four workers are hired.
C. three workers are hired.
D. five workers are hired.
Answer: A
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Inequality in the distribution of income in the United States today arises primarily from
A) the collapse of the government's income support system. B) the highly unequal distribution of corporate wealth. C) the tax system. D) the weakness of labor unions. E) unequal abilities to supply valuable human services.
Which of the following forms of unemployment probably imposes the greatest personal costs?
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) voluntary unemployment.
According to William Safire, “helpfulism” is basically protectionism.
Answer the following statement true (T) or false (F)
Recall the Application about choosing a price for drones based on a linear demand curve to answer the following question(s).Recall the Application. Suppose a firm that produces drones has a linear demand curve for its product, with a vertical intercept of $1,500. If the firm does not want the demand for its product to be price-inelastic, the minimum price it should charge is:
A. $500. B. $750. C. $1,000. D. $1,500.