In the above figure, the most efficient way to produce 10 units is to hire
A) 1 worker.
B) 2 workers.
C) 3 workers.
D) 5 workers.
B
You might also like to view...
An advantage of the personal consumption expenditures price index (PCE) over the Consumer Price Index (CPI) as a measure of inflation is that the PCE
A) is a fixed market-basket price index that does not allow the mix of products to change each year. B) includes the prices of consumer services, but not consumer goods. C) includes the prices of more consumer goods and services. D) includes the prices of consumer goods, but not consumer services.
What happens to the aggregate demand curve when the Fed reduces the money supply?
a. It shifts leftward, lowering real GDP and the price level. b. It shifts leftward, raising real GDP and the price level. c. It shifts leftward, lowering real GDP but raising the price level. d. It shifts rightward, raising real GDP and the price level. e. It shifts rightward, lowering real GDP but raising the price level.