Each day Sue works 8 hours and produces 7 units of goods and services. Mary works 10 hours each day and produces 10 units of goods and services. It follows that
a. Sue's productivity is higher than Mary's.
b. Mary's productivity is higher than Sue's.
c. Sue's income per hour will be higher than Mary's.
d. Sue's income per day will be higher than Mary's.
b
Economics
You might also like to view...
Economic depreciation is the
A) firm's opportunity cost of using its own capital. B) change in the market value of capital over a given period. C) return that an entrepreneur can expect to receive on average. D) forgone return on the funds used to buy capital.
Economics
Suppose that the production function for the economy is Y = AK0.5L0.5. If the capital stock = 40,000, the quantity of labor = 10,000, and the efficiency index = 3, the equilibrium real wage is
A) $3. B) $4.50. C) $9. D) $16.67.
Economics