If a firm hires 215 workers it will produce 3,016 units of output. If it hires 216 workers it will produce 3,128 units of output. The marginal physical product of labor equals
A) 1.
B) 112.
C) 216.
D) 3,128.
B
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Financial securities that represent promises to repay a fixed amount of funds are known as
A) stocks. B) pension funds. C) bonds. D) insurance premiums.
A monopoly's economic profits are represented by:
a. (price minus marginal cost) times number of units sold. b. (price minus average cost) times number of units sold. c. (marginal revenue minus price) times number of units sold. d. (marginal cost minus price) times number of units sold.
The following image shows the market equilibrium for opera tickets. The graph shows that a demand curve for opera tickets, labeled D and a supply curve of opera tickets, labeled S. Area _____ represents the maximum amount that consumers are willing to pay for 10 opera tickets?.
a. ?a b. ?a + b c. ?c d. ?b e. ?a + b + c
The real-business-cycle theory holds that business fluctuations are caused by:
A. factors affecting aggregate demand. B. incorrectly anticipated government stabilization policies. C. significant changes in technology and resource availability. D. "stop-and-go" monetary policies.