Refer to the information provided in Figure 7.4 below to answer the question(s) that follow. Figure 7.4Refer to Figure 7.4. The marginal product of the first worker is
A. 12.
B. 16.
C. 20.
D. 32.
Answer: A
Economics
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In a market system, the ultimate decision about what to produce is left to
A) buyers. B) the government. C) sellers. D) households.
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Which of the following is not a characteristic of capitalism?
a. Private ownership of resources. b. Decentralized decision-making using markets. c. Representative democracy. d. Consumer sovereignty.
Economics