Based on the production data for Pat's Pizza Parlor in the above table, which worker has the largest marginal product?
A) Worker 1
B) Worker 2
C) Worker 3
D) Worker 4
B
You might also like to view...
Which of the following is a possible reason for governments to regulate business operations?
a. To increase monopoly profits b. To reduce the amount of information consumers have about a product c. To increase negative externalities d. To promote competitive behavior e. To decrease positive externalities
E-commerce and an internet presence are important to many firms, requiring employees with specialized skills that are in short supply. The invisible hand solves the employment problem by:
A. discouraging firms from using of new technologies such as the internet. B. giving workers an incentive to acquire the necessary skills on their own in order to receive higher wages. C. providing free internet access. D. encouraging the government to set up training programs to provide workers with the necessary skills.
Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. If they then still sell almost the same number of sodas per day, this suggests:
A. soda purchases represent a large fraction of students' budgets. B. there are few other places to purchase soda on campus. C. the price elasticity of demand for soda is equal to 1. D. students do not have good nutritional information.
The IS curve will shift to the left when which of the following occurs?
A) a reduction in the money supply B) a reduction in government spending C) an increase in the interest rate D) all of the above E) none of the above