The above table shows a short-run production function for Albert's Pretzels. The marginal product of labor
A) rises then falls as the amount of capital increases.
B) falls then rises as the amount of labor increases.
C) is greater than or equal to the average product of labor for all amounts of labor.
D) is less than or equal to the average product of labor for all amounts of labor.
D
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If the quantity of money demanded exceeds the quantity of money supplied, then the
A) equilibrium interest rate will decrease. B) equilibrium interest rate will increase. C) equilibrium interest rate stays the same. D) effect on the equilibrium interest rate is indeterminate.
Tacit collusion occurs in industries that
a. are monopolistically competitive b. contain price leaders c. experience rapid technological change d. are regulated e. produce very differentiated products