If the cost of capital is $32 per hour, the wage paid to employees is $15 per hour, the marginal product of capital is 16 units per hour, and the marginal product of labor is 7.5 units per hour, to minimize its costs, the firm should ________.
A) increase the amount of labor and capital used
B) not change the amount of labor or capital
C) increase the amount of labor used and decrease the amount of capital used
D) decrease the amount of labor used and increase the amount of capital used
B) not change the amount of labor or capital
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What insights can we gain about humanity’s past by studying the lives of contemporary foragers? What are the limitations associated with using modern foragers to help understand ancient humans?
What will be an ideal response?
Refer to the table below. When the ________ worker is hired, the firm experiences decreasing marginal returns of labor.
A) 4th B) 6th C) 2nd D) 3rd
What criteria did Linnaeus use to establish his classificatory system?
What will be an ideal response?
In a hypothetical situation, B is the allele that causes brachydactyly. If a man who has normal fingers (bb) and a woman with brachydactyly (Bb) have children, what proportion of these children would you expect to have normal fingers? (Hint: Use a Punnett square.)
a. 1/16 b. 1/8 c. 1/4 d. 3/4 e. 1/2