An increase in price results in increase in supply but not an increase in the quantity supplied
Indicate whether the statement is true or false
FALSE
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The table above shows Tom's total utility from milkshakes and sodas. A milkshake costs $2.00. What is the marginal utility per dollar spent when the eighth milkshake is purchased?
A) 32 units per dollar B) 20 units per dollar C) 16 units per dollar D) 10 units per dollar
The marginal physical product of labor for the most recent worker hired by Ajax is 286. If Ajax were to hire an additional worker we would expect the marginal physical product of labor to
A) remain at 286. B) be below 286. C) be above 286 by a small amount. D) be above 286 by a large amount.
The most narrow measure of money is:
a. M1 b. M2 c. M3 d. Cash
An efficiency wage
A) is higher than the market wage and tends to increase productivity. B) is lower than the market wage and tends to increase productivity. C) is higher than the market wage and tends to decrease productivity. D) is lower than the market wage and tends to decrease productivity.