The above table shows the short-run total product schedule for the campus book store. Which employee has the highest marginal product (MP)?
A) the 10th employee
B) the 5th employee
C) the 4th employee
D) the 1st employee
C
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What is meant by the demographic transition? What are the differences in the demographic transition between the current developed economies and developing countries?
What will be an ideal response?
An increase in the saving rate results in a higher steady state ________
A) growth rate of capital B) growth rate of output per worker C) level of consumption per worker D) level of capital per worker
The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 200 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What is the wage required to hire the profit maximizing number of workers?
A. $25,000 B. $50,000 C. $20,000 D. $15,000
The aggregate demand curve is downward sloping because increases in the price level affect people's real wealth, their lending and borrowing activity, and the nation's trade with other nations in such a way that the quantities demanded for the goods and services produced in the economy decrease
Indicate whether the statement is true or false