Refer to Scenario 7.8 below to answer the question(s) that follow. SCENARIO 7.8: A swimming pool cleaning company has the following production possibilities. With one, two, three, and four workers, the company can clean 5, 12, 17, and 20 pools per day, respectively. Refer to Scenario 7.8. The marginal product of the third worker is
A. 4.
B. 5.
C. 12.
D. 17.
Answer: B
You might also like to view...
The key explanation for the prevalence of waterway pollution is
a. the inclusion in production of all costs involving use of the waterway. b. that there are private costs but no costs to society. c. that waterways are often an open access, commonly owned resource. d. that waterways are subject to the market's normal control procedures.
In the early ________, computers became powerful enough to have a real economic impact.
A. 1970s B. 1990s C. 1980s D. 2000s
For economic growth to increase living standards
A. society must acquire more resources. B. the rate of growth must exceed the rate of population increase. C. society must discover ways of using available resources more efficiently. D. the choices available to consumers must increase.
Quantity of Frozen Latte-On-A-Stick SuppliedPriceFlo's SupplyRita's Supply10020334649951512
Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, if the market quantity supplied is 3, the price must be:
A. $0. B. $2. C. $4. D. $5.