In the above table, the marginal product of the second worker is

Refer to Figure 9.7. The amount the government will have to pay to producers to sustain this policy is at least

A) $0. B) $10,000. C) $15,000. D) $20,000. E) $100,000.

Which of the following most accurately states the function of middlemen?

a. Middlemen reduce transaction costs. b. Middlemen add to the expense of buyers and sellers without providing any benefit. c. Our economy would work just as well without middlemen since they do not expand the availability of physical goods. d. Middlemen reduce the number of transactions since they increase the buyer's price and reduce the seller's net receipts.