Suppose a demand schedule is P = 100 - Q and a supply schedule is P = 20 + 2Q. What is the marginal net benefit curve?
a. MNB = 80 - Q
b. MNB = 80 - 3Q
c. MNB = 80 + Q
d. MNB = 120 - Q
e. MNB = 120 - 3Q
Ans: b. MNB = 80 - 3Q
Economics
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The average product of labor is equal to the
A) total product divided by the total number of workers hired. B) total number of workers hired divided by the total product. C) slope of the marginal product of labor curve. D) Both answers B and C are correct.
Economics
Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate?
a. 6.25% b. 8.3% c. 9.1% d. 18.75%
Economics