The above figure depicts a short-run production function for Albert's Pretzels. The marginal productivity of labor
A) rises then falls as the amount of capital increases.
B) falls then rises as the amount of labor increases.
C) is greater than or equal to the average productivity of labor for all amounts of labor.
D) is less than or equal to the average productivity of labor for all amounts of labor.
D
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Conflicts of interest arising from management advisory services brought down ________ in 2002
A) Enron B) WorldComm C) Arthur Andersen D) Global Crossing
Identify the market structure characterized by many small firms selling somewhat different products.
A. Monopoly B. Monopolistic competition C. Perfect competition D. Duopoly
If a profit-maximizing monopolist faces a downward-sloping market demand curve, its
a. average revenue is less than the price of the product. b. average revenue is less than marginal revenue. c. marginal revenue is less than the price of the product. d. marginal revenue is greater than the price of the product.
Grapevine Bank receives a deposit of $200,000. Its required reserve ratio is 12 percent. How much of this deposit is available to be loaned to borrowers?
a. $12,000 b. $176,000 c. $200,000 d. $24,000