Suppose that the price of doughnuts decreases. Given that doughnut-holes are a by-product of producing doughnuts, one would expect:
A. the supply of doughnuts to increase.
B. the supply of doughnut holes to increase.
C. the supply of doughnuts to decrease.
D. the supply of doughnut holes to decrease.
Answer: D
Economics
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In the above figure, a negative relationship is demonstrated in which of the graphs?
A) Figure A B) Figure B C) Figure C D) Figure D
Economics
The Average Product of Labor is
A) the change in total product resulting from an extra unit of labor, holding other factors constant. B) the ratio of output to the number of workers used to produce that output. C) the amount of output that can be produced by a given amount of labor. D) equal to the marginal product of labor when the average product is increasing.
Economics