In the above table, if the marginal factor cost is $48, how many workers would be hired?
A) 3
B) 4
C) 5
D) 6
C
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The largest category of commercial banks' assets is
A) securities. B) reserves. C) currency. D) checkable deposits. E) loans.
Large differences in interest rates between countries would indicate that
A) the global market is thriving. B) there is good communication between countries about potential global investment opportunities. C) there are unrealized gains from trade. D) the market is in danger of collapse. E) the supply growth exceeds the aggregate demand.
Let supply be given by P = 5Q and demand by P = 19 - 2Q. Suppose we now place a tax of 5 per unit of output on the seller. The new equilibrium price is:
A. 10 B. 7 C. 15 D. 2
A situation in which union membership is required before a person can be hired is a
A) closed shop. B) union shop. C) agency shop. D) restricted shop.