Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 5th laborer?

A) 8 cabinets
B) 7 cabinets
C) 6 cabinets
D) 4 cabinets


B

Economics

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A. low marginal utility. B. large quantities are sold. C. high marginal utility. D. a high price/marginal utility ratio.

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Briefly explain how growth in real GDP differs across economies including the United States, Japan, Africa, Central America, Hong Kong, Korea, and Singapore

What will be an ideal response?

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The increase in output that results when one more unit of a variable input is hired is called

A) total physical product. B) marginal physical product. C) average physical product. D) marginal revenue.

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Which of the following does the Federal Reserve not do?

a. It controls the supply of money. b. It acts as a lender of last resort to banks. c. It makes loans to any qualified business that requests one. d. It tries to ensure the health of the banking system.

Economics