Which of the following describes how the marginal product of a package-delivery business might change when it adds a second delivery van?
a. The on-time delivery rate rises by 40 percent.
b. The cost per delivery falls by 25 percent.
c. The delivery area expands by 30 percent.
d. Fuel and service costs rise by 85 percent.
a. The on-time delivery rate rises by 40 percent.
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The demand curve for the product of a perfectly competitive firm's demand curve indicates that if the firm
A) lowers its price, it can sell more. B) accepts the market-set price, the number of units the firm can sell is limited. C) raises its price, sales will fall to zero. D) changes its price, the quantity demanded will change in the opposite direction.
If the U.S. trade deficit was reduced in a rush, what would be a possible result?
a. decreasing inflation and increasing unemployment b. increasing inflation and decreasing unemployment c increasing inflation and increasing unemployment d. decreasing inflation and decreasing unemployment
Give an example of an oligopolistic market. Explain why it is oligopolist.
What will be an ideal response?
Most economists believe that biases cause changes in the CPI to overstate the inflation rate by ________ percentage points
A) 0.1 to 0.2 B) 0.2 to 2.0 C) 0.4 D) 0.5 to 1.0 E) 1.0 to 3.0