A firm producing dresses currently uses 1,347 hours of labor to produce 2,509 dresses per week. The average product of labor
a. cannot be determined from the information given
b. is 2,509 dresses per labor hour.
c. is 1.86 dresses per labor hour.
d. is 186 dresses per labor hour.
c. is 1.86 dresses per labor hour.
Economics
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Economics is primarily the study of
a. how to make money in the stock market. b. how to find lower cost methods of production. c. the choices we must make among alternatives because of scarcity. d. the proper form of industrial structure for the United States.
Economics
When the supply of a good is perfectly elastic, the entire tax is paid by the buyers
a. True b. False Indicate whether the statement is true or false
Economics