The above table depicts output from a firm that manufactures computers. The computers sell for $1,000 each. What is the marginal revenue product (MRP) for the fourteenth worker per week?
A) 90 units
B) 80 units
C) $70,000
D) $60,000
D
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Raising household savings could be beneficial because ________
A) it translates into higher investment B) severe economic downturns can be "better-weathered" C) it provides a cushion to avoid bankruptcies D) all of the above E) none of the above
Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.
A. $25; 20 B. $25; 5 C. $30; 15 D. $35; 20
The total population of an economy is 175 million, the labor force is 125 million, and the number of unemployed is 8 million. The unemployment rate for this economy is:
a. 7.8 percent b. 5.8 percent c. 6.4 percent d. 4.6 percent
The formula for cross-price elasticity is
A. The percentage change in the price of one good divided by the percentage change in the quantity demanded of another good. B. The percentage change in the quantity demanded for one good divided by the percentage change in the price of another good. C. The percentage change in the quantity demanded divided by the average change in price. D. The percentage change in the quantity demanded for one good divided by the percentage change in income.