A bracelet making company has three employees, and together they produce 10 bracelets an hour. When a fourth worker joins them, the output for the company is now 11 bracelets an hour. Which of the following is true?
A. Average product has increased.
B. Diminishing marginal product started with the fourth worker.
C. Total product is increasing.
D. None of these is true.
Answer: C
Economics
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Tyler was fired when a machine took over his duties. He is so frustrated that he has decided to wait a few months before looking for a job. What type of unemployment is he?
a. frictional b. natural c. not unemployed d. structural
Economics
Everything else held constant, if the expected return on RST stock declines from 12 to 9 percent and the expected return on XYZ stock declines from 8 to 7 percent, then the expected return of holding RST stock ________ relative to XYZ stock and
demand for XYZ stock ________. A) rises; rises B) rises; falls C) falls; rises D) falls; falls
Economics