What does the average product of labor equal?
What will be an ideal response?
The average product of labor equals the total product (the total output) divided by the quantity of labor.
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What percent of the states do not allow any branch banking?
A. 10. B. 20. C. 40. D. 60.
When planned autonomous spending rises, the planned expenditure line
A) makes a parallel shift downward. B) makes a parallel shift upward. C) pivots upward from the vertical intercept. D) pivots downward from the vertical intercept.
The Department of Justice has challenged the merger of two firms, and the case has ended up in the Supreme Court. The two firms argue that they will not use their monopoly power to raise prices or to cut output. Under what judicial standard would their merger be allowed, and under what judicial standard would their merger be disallowed?
An economic model can be described as
a. an abstract representation of reality b. a detailed description of some economic phenomenon c. something that is often more complex than the real-world phenomenon it represents d. a vehicle for making positive economic statements e. a vehicle for making normative economic statements