A water bottle manufacturing plant uses a three-step procedure to produce each unit of bottle. The first step is casting, which needs 35 workers to operate the furnace. The second step is quenching, which needs 35 workers. At the third step, bottles are prepared for dispatch in the assembly line with the help of 70 workers. If the factory produces 14,000 bottles per day, then the productivity of
labor in the factory is equal to _____.
a. 200 bottles per worker
b. 400 bottles per worker
c. 100 bottles per worker
d. 140 bottles per worker
e. 220 bottles per worker
c
Economics
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Ownership of a necessary input creates what type of barrier to entry?
A) legal barrier to entry B) natural barrier to entry C) a public franchise D) a government license E) ownership barrier to entry
Economics
According to the figure above, if there is no income tax, the equilibrium real wage rate is ________ and the equilibrium hours of labor are ________
A) $20; 200 billion B) $30; 250 billion C) $30; 200 billion D) $35; 200 billion E) The equilibrium is not shown.
Economics