Number of workersUnits of output00110230344455
Refer to Table 5.1, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product of the fourth worker is:
A. 12 units.
B. 11 units.
C. 5 units.
D. 0 units.
Answer: B
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Figure 9.1 shows three aggregate demand curves. A movement from point b to point a could be caused by a(n)
A) increase in government spending. B) decrease in the money supply. C) increase in taxes. D) increase in the price level.
_____, the time-inconsistency problem gets eliminated
a. When an inflation or a recession is correctly anticipated b. When lags associated with monetary and fiscal policy are extremely short c. When discretionary macro policy is replaced with fixed policy rules which are well publicized d. When expectations about the economy adjust very slowly e. When the price level in an economy adjusts over time with changes in aggregate demand
The MRP technique is best utilized to plan the demand for materials, and other resources, which experience ____________ demand.
A. independent B. Dependent C. Operational D. Random
What is not likely to be a major problem for businesses during a period of ongoing inflation?
(A) They cannot anticipate their costs. (B) They do not know when the inflation will stop. (C) They have difficulty hiring help. (D) Their money loses its value.