One of the most significant developments in labor supply in recent times is the increase in the labor force participation of married women

In New Zealand one worker can produce 40 walking sticks or 10 boomerangs each hour. What is the opportunity cost of producing one walking stick?

a. 40 boomerangs b. 10 boomerangs c. 4 boomerangs d. 1/4 of a boomerang e. 1/2 worker

When average total cost is decreasing as output expands: a. average fixed cost must be increasing

b. average variable cost must be falling. c. marginal cost must be greater than average total cost. d. marginal cost must be less than average total cost.