The marginal product of labor is calculated assuming other factor inputs
A) increase more than proportionately.
B) increase less than proportionately.
C) remain constant.
D) decrease.
Answer: C
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Suppose the market price for one unit of a good is $12.50, and 50 units will be exchanged at that price. If a price floor is imposed at $12.00 per unit, the price will: a. fall to $12.00, and quantity will fall below 50 units
b. fall to $12.00, and quantity will remain at 50 units. c. remain at $12.50, and quantity will rise above 50 units. d. remain at $12.50, and quantity will remain at 50 units.
Refer to the data provided in Table 9.3 below to answer the following question(s). Table 9.3qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43Refer to Table 9.3. The lowest output this firm would produce before shutting down is ________ units.
A. 1 B. 2 C. 3 D. 4
Explain the objective of the benevolent social planner
What will be an ideal response?
When total output, income, employment, and trade decline for 6 to 12 months, the economy is in what part of the business cycle?
What will be an ideal response?