At point d in the above figure, the average product of labor equals
A) 15.
B) 4.
C) 3.75.
D) approximately 1.
C
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The additional cost to a producer of hiring an additional unit of labor is called the marginal cost
Indicate whether the statement is true or false
State and local income taxes should be deducted from federal income tax.
A. True B. False C. Uncertain
Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.Table 1.3Production Possibilities for Brushes and CombsCombinationNumber of combsOpportunity Cost(Foregone brushes)Number of brushesOpportunity Cost (Foregone combs)J4 0NAK3 10 L2 17 M1 21 N0NA23 On the basis of Table 1.3, in the production range of 1 to 2 combs the opportunity cost of producing 1 more comb in terms of brushes is
A. 4. B. 1/2. C. 1/7. D. 2/17.
U.S. citizens and firms demand foreign exchange when they buy products from citizens and firms in other countries.
Answer the following statement true (T) or false (F)