Using the table above, for which of the following levels of employment does the average product of labor exceed the marginal product of labor at Decent Donuts?
A) ten workers
B) seven workers
C) both of the above
D) neither of the above
C
You might also like to view...
If the minimum wage exceeds the equilibrium wage, then
A. there will be no unemployment. B. the minimum wage will not be binding. C. the quantity supplied of labor will exceed the quantity demanded. D. the quantity demanded of labor will exceed the quantity supplied.
Which of the following could explain why there was a stampede at the Richmond International Raceway where 1,000 laptops were being sold at $50 each?
A) Those who bought laptops at that price were those who valued laptops the most. B) The quantity of laptops demanded at $50 was higher than the quantity supplied. C) The demand for laptops is not very responsive to price. D) The price of $50 per laptop was above the equilibrium price of laptops.