Refer to Figure 24-1. Ceteris paribus, an increase in the value of the domestic currency relative to foreign currencies would be represented by a movement from

Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 690 machines. Suppose Jill adds one more worker and, as a result, her factory's output increases to 700 Jill's marginal product of labor from the last worker hired equals ________.

A) 10 B) 20 C) 690 D) 700 E) None of the above answers is correct.

In Likpe Mate, one of the Paramount seat villages within the newly created region, Oti Region, the sellers have agreed among themselves to sell food items in turns. Thus, if one-person cook waakye today, she has to wait for the next three days for others to also sell similar waakye before selling same waakye again. Due to such arrangement among the sellers in the village, consumers are complaining of high prices of food despite the village being a farming community. Should the people of Likpe Mate adopt ‘free competitive market’ as proclaimed by economists? Discuss