The productivity of workers in an economy is high if:
A) the economy has a negative rate of inflation.
B) the economy has low capital stock.
C) the economy has high levels of human capital.
D) the economy has a large working age population.
C
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The above table gives the total cost schedule for oil changes at the local Jiffy Lube
a. What is Jiffy Lube's total fixed cost? b. What is the total variable cost of 2 oil changes? c. What is the average variable cost of 4 oil changes? d. What is the average fixed cost of 2 oil changes? e. What is the marginal cost of the 3rd oil change?
A monopolist can set any price it wants. So why does it still produce at a point where MC=MR, just like a perfectly competitive firm?
What will be an ideal response?
Which factors will cause the consumption function to shift? Which factors do not cause the function to shift?
Lumicia Corporation spent $2 million to purchase a new technology that would lower its manufacturing cost by 15 percent. This will enable the company to sell its output cheaper than most other competitors. This improvement in the technology of production is most likely to result in a(n): a. upward shift of its aggregate production function
b. downward shift of its aggregate production function. c. rightward movement along its aggregate production function. d. leftward movement along its aggregate production function.