A soda factory employs seven workers and produces 500 bottles of soda a day. The company reduces the workforce to six workers and output is now 450 bottles a day. The seventh worker:
A. had a marginal product of 50 bottles of soda.
B. caused average product to fall.
C. had a lower marginal product than the sixth worker.
D. All of these are true.
D. All of these are true.
Economics
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The statement "The income tax is unfair to those who work hard to earn their incomes" is an example of positive economic analysis
a. True b. False Indicate whether the statement is true or false
Economics
If MU a /P a = 100/$35 = MU b /P b = 300/? = MU c /P c = 400/?, the prices of products B and C in consumer equilibrium:
A. cannot be determined from the information given. B. are $105 and $140 respectively. C. are $105 and $175 respectively. D. are $100 and $200 respectively.
Economics