The marginal physical product of labor for the most recent worker hired by Ajax is 286. If Ajax were to hire an additional worker we would expect the marginal physical product of labor to
A) remain at 286.
B) be below 286.
C) be above 286 by a small amount.
D) be above 286 by a large amount.
B
Economics
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An advantage of the gold standard was that it allowed currencies to freely float against each other
a. true b. false
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If producers who hire labor in a competitive labor market decide to purchase the new automated machine that completes the work of 30 employees, we would expect the labor-demand curve to shift to the:
A. left and wages would rise. B. right and wages would rise. C. left and wages would decrease. D. right and wages would decrease.
Economics