Factors of production is another name for
a. the goods produced in a production possibilities table
b. the goods not produced in a production possibilities table
c. the goods produced in international trade
d. resources
e. money
D
Economics
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According to the table above, clothing production exhibits
A) decreasing returns to scale. B) constant returns to scale. C) increasing returns to scale. D) varying returns to scale.
Economics
The marginal physical product of labor for the most recent worker hired by a company is 100. If this company were to hire an additional worker we would expect the marginal physical product of labor to
A) remain at 100. B) be below 100. C) be above 100 by a small amount. D) be infinity.
Economics