Using Figure 1.6, we know the production of 130 units of soda and 1 unit of pizza is 
A. impossible because we have the technology but do not have the resources.
B. possible, but there would be unemployed resources.
C. possible, but only if all resources were fully employed.
D. impossible because we have the resources but do not have the technology.
Answer: C
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Assume that after the fifth worker, each additional worker a firm hires is less productive than the previous worker. Based on this information, we can conclude that beyond the fifth worker, the average product of labor will:
A) increase. B) stay the same. C) decrease. D) cannot be determined without additional information.
If a firm is producing an output level at which marginal revenue exceeds marginal cost in the short run, the firm will increase profits by reducing its output level
a. True b. False Indicate whether the statement is true or false