The table above shows the total product schedule for Rick's Lawn Service, a yard care company. Decreasing marginal returns start to occur after the ________ worker is hired
A) first
B) fourth
C) fifth
D) sixth
E) third
C
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Profit is maximized at the output at which marginal revenue exceeds marginal cost by the greatest margin.
Answer the following statement true (T) or false (F)
Refer to Figure 19-5. The Chinese government pegs the yuan to the dollar, at one of the specified exchange rates on the graph, such that it overvalues its currency. Using the figure above, this would generate
A) a shortage of yuan equal to 500 million. B) a shortage of yuan equal to 100 million. C) a surplus of yuan equal to 700 million. D) a surplus of yuan equal to 200 million.
What are the major differences between the new HDI and the original HDI?
What will be an ideal response?
Economists point out that if it were not for diminishing returns, we could grow enough food to feed the world in a flowerpot. Explain what they mean.
What will be an ideal response?