Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4, what is the value of marginal product of the 4th worker?
A) $240
B) $70
C) $10
D) $40
D
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Immediately after being collected, taxes are deposited in
A) tax and loan accounts. B) the Federal Reserve Bank of New York. C) Federal Reserve district banks around the country. D) the Congressional Vault.
Relative to the United States, Europe has
A) higher unemployment. B) slower job growth. C) higher real wage growth. D) A and B. E) all of the above.
When price is greater than both marginal cost and average variable cost, the perfectly competitive firm
A) is maximizing economic profit. B) should increase its level of output. C) should reduce its level of output. D) should stop production.
Which type of bond offers a relatively high interest rate to compensate for its relatively high chance of default?
a. Junk bond b. Treasury bond c. Municipal bond d. Savings bond