Refer to the table below. With diminishing marginal returns, if the firm hires seven units of labor, which of the following numbers would most probably be the total product?
Assume that the only variable resource used to produce output is labor.
A. 40
B. 39
C. 38
D. 37
D. 37
Economics
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The _______ demand for money is holding money in expectation that bond prices and the prices of other assets might change.
A) speculative B) exchange C) transactions D) precautionary
Economics
The points outside the production possibilities frontier are
A) attainable. B) efficient. C) inefficient. D) unattainable.
Economics