Which of the following mathematical statements is correct
a. Total Output=Productivity x Average Hours x the employment-population ratio x Population
b. Total Output=Productivity / Average Hours x the employment-population ratio / Population
c. Total Output=Productivity + Average Hours + the employment-population ratio + Population
d. Total Output=(Productivity x Average Hours) / (the employment-population ratio x Population)
e. Total Output=Productivity x Average Hours x the employment-population ratio
A
You might also like to view...
If an environmental group wanted to prevent the habitat destruction of the Wyoming pocket gopher, the Coase theorem would direct the group to
A) try to get laws enacted to protect the species. B) bargain in order to obtain the property rights of the gopher habitat. C) physically block any efforts to destroy the habitat. D) protest the destruction while gaining media attention for their cause.
If a monopolistically competitive firm's marginal cost increases, then in order to maximize profits, the firm will:
A. increase output and decrease price. B. reduce both output and price. C. reduce output and increase price. D. increase both output and price.