The marginal physical product of the third unit of labor in Figure 21.1 is

A. 12.0 units per day.
B. 13.3 units per day.
C. 40.0 units per day.
D. 4.0 units per day.


Answer: A

Economics

You might also like to view...

An increase in the quantity of capital shifts both the long-run and short-run aggregate supply curves

Indicate whether the statement is true or false

Economics

Economists call the physical cost of changing prices:

A. the cost of doing business. B. menu costs. C. inflationary suffrage. D. increasing profits.

Economics

Reserve requirements on bank deposits are set by

A) the SEC. B) the Federal Reserve board of governors. C) the Federal Reserve district banks. D) Congress.

Economics

Given that the characteristics of Social Security are determined through the political process, we would expect that young workers would _____ when given the opportunity to vote on the program

a. oppose increases in Social Security taxes b. oppose increasing the retirement age c. oppose means-testing of retirees d. be strongly in favor of the status quo

Economics