In the above table, if the marginal factor cost is $48, how many workers would be hired?

A) 3
B) 4
C) 5
D) 6

C

Economics

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Consumer surplus measures the value between the price consumers are willing to pay and the:

a. producer surplus price. b. deadweight gain price. c. actual price paid. d. preference price.

Economics

Pair-wise majority voting eliminates which problem?

A. Third party problem B. Majority options problem C. Misalignment problem D. Swing-vote problem

Economics