Suppose a fishing boat reaches its most productive use of each person's talent with 15 crew members. More than 15 workers would cause overcrowding. If there are only 10 crew members currently on the boat, adding one more crew member will
a. require the owner to add another boat
b. increase the level of labor productivity
c. have no effect on labor productivity
d. reduce the need for other variable inputs such as fuel
e. reduce the total variable cost of operating the fishing boat
B
You might also like to view...
What is the economic problem? How does a command economy solve the economic problem?
What will be an ideal response?
Which of the following will cause the price of beer to rise?
A) A shift to the right in the demand curve for beer B) A shift to the left in the supply curve of beer C) both A and B D) none of the above
Very Technical is a firm that sells computing equipment. It costs Very Technical $40 for each order of computer monitors and the variable cost of placing an order is $5 per monitor. If Very Technical sells 2,000 computer monitors a year and they order 50 monitors, what is the annual ordering cost of the monitors?
A) $122,500 B) $116,000 C) $95,500 D) $87,500
How are index numbers expressed?
a. as dollars b. as percentages c. as numbers d. as ratios