Joan can make and bottle 8 smoothies an hour. If she works with a friend, they can make and bottle 18 smoothies an hour. What is the marginal product of labor?

How does an increase in the proportional labor income tax modify the consumer's budget constraint?

A) a parallel move up B) a parallel move down C) the slope decreases (constraint gets steeper) D) the slope increases (constraint gets flatter)

The figure below shows the supply and demand curves for oranges in Smallville.When this market is in equilibrium, total economic surplus is ________ per day.

A. $320 B. $80 C. $160 D. $0