Denise owns a plant that produces watch parts in Ohio. Denise noticed that when she hired the last worker, that worker's marginal product exceeded the marginal product of the previous worker
As a result, when the last worker was hired, Denise's average product of labor A) decreased.
B) increased.
C) did not change.
D) perhaps changed, but there is not enough information to determine whether or not it did change.
E) equals the marginal product of labor.
B
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Along the elastic portion of a demand curve, the
A. change in price will always be greater than the change in quantity demanded. B. percentage change in quantity demanded will be less than the percentage change in price. C. change in price will always be less than the change in quantity demanded. D. percentage change in price will be less than the percentage change in quantity demanded.
How will an increase in labor productivity affect equilibrium in the labor market?
A) The demand for labor will increase and the equilibrium wage and quantity of labor will increase. B) The demand for labor will decrease because fewer workers will be needed to produce the same output. The equilibrium wage and quantity of labor will decrease. C) The supply of labor will increase and the equilibrium wage and quantity of labor will increase. D) The demand for jobs will increase and the equilibrium wage and quantity of labor will increase.
The absence of the Southern economy's ability to earn foreign exchange and its markets severely impacted all non-local trade in the U.S. after the Civil War
Indicate whether the statement is true or false
Money is not subject to the law of diminishing marginal utility
Indicate whether the statement is true or false