Kate is a florist. Kate can arrange 20 bouquets per day. She is considering hiring her husband William to work for her. Together Kate and William can arrange 35 bouquets per day. What is William's marginal product?

A significant portion of the increase in state tax revenues from 1950 to 1970 was because _____

a. of high inflation b. of increased economic growth due to the Korean conflict c. many states adopted new tax bases they had previously not taxed d. increased property tax rates

If a 5 percent decrease in the price of a good produces a 5 percent increase in the quantity demanded, the price elasticity of demand is:

a. perfectly elastic. b. perfectly inelastic. c. elastic. d. inelastic. e. unitary elastic.