All Honolulu law enforcement personnel must go through the same training program, but law enforcement personnel assigned to guard the capital building earn 15% less than law enforcement personnel assigned to the homicide division. This 15% difference in pay is an example of a ________ differential.
A. transfer payment
B. human capital
C. compensating
D. utility
Answer: C
Economics
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If four workers were hired and we discovered that we could produce 88 units of production, what is the average physical product of labor?
A) 44 B) 352 C) 11 D) 22
Economics
Firms will employ each input up to the point that its price equals its marginal revenue product.
Answer the following statement true (T) or false (F)
Economics