Exhibit 7-1 Production of pizza data
Workers
Pizzas
0
  0
1
  4
2
10
3
15
4
18
5
19
Exhibit 7-1 shows the change in the production of pizzas as more workers are hired. The marginal product of the second employee equals:

A. 4.
B. 10.
C. 14.
D. 6.


Answer: D

Economics

You might also like to view...

In a competitive industry, each firm has a cost function (for a given set of input prices). Demand for the industry's output is . The (long run) equilibrium number of firms is

A. 120 B. 58 C. 46 D. 34 E. 29 F. 12 G. 2 H. None of the above

Economics

Jeannie's marginal utility from her 4th book in a month is 50. Her marginal utility from her 5th book

A) is greater than 50. B) equals 50. C) is less than 50. D) might be more than, less than, or equal to 50 but more information is needed.

Economics

Assume the United States is currently running a current account deficit. The most effective way of eliminating this current account deficit would be to temporarily ________ government purchases and ________ the domestic money supply

A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease

Economics

This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.The game in the figure shown is a version of:

A. the first-mover advantage. B. the prisoner's dilemma. C. a sequential game. D. a repeated game.

Economics