If four workers can produce 18 chairs a day and five can produce 20 chairs a day, the marginal product of the fifth worker is
A) 2 chairs. B) 3 chairs. C) 4 chairs. D) 38 chairs.
A
Economics
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If there is an increase in the price level in the classical model,
a. the equilibrium level of output will remain unchanged. b. real wages remain constant. c. money wages will rise proportionally. d. all of the above.
Economics
The regulation that sets the minimum fraction of deposits banks must hold in reserve is called the:
A. reserve requirement. B. interest rate. C. dual mandate. D. money multiplier.
Economics