Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L = 5, Q = 125) and (L = 6, Q = 152). Then the marginal product of the 6th worker is

a. 25 units of output.
b. 27 units of output.
c. 37 units of output.
d. 162 units of output.

b

Economics

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Which statement holds true in the post-World War II era?

(a) There was a permanent increase in the percentage of working adult women with children. (b) Firms found it most profitable to treat women as individuals rather than groups. (c) Marriage bars returned. (d) Female participation in farming, common labor and craft work in the U.S. increased significantly.

Economics

Most economists agree that the immediate determinant of the volume of output and employment is the:

A. composition of consumer spending. B. ratio of public goods to private goods production. C. level of total spending. D. size of the labor force.

Economics