Minimax Motors, a car manufacturer, spent $300 million on the establishment of a new plant that includes 25 assembly lines. The new plant has 470 employees that work 5 days a week to produce 1,200 cars per week. If Minimax Motors wants to increase its output to 1,400 cars per week immediately, it should:
a. increase the number of assembly lines in its plant
b. increase the number of workers in the plant.
c. increase the number of workers as well as the number of assembly lines in the plant.
d. open a new plant with more assembly lines and workers.
b
Economics
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Which of the following was a free market philosopher?
a) Karl Marx b) Adam Smith c) Vladimir Lenin d) Friedrich Engels
Economics
If a monopolist was operating in a price range where marginal revenue was negative, it would be
A) in the inelastic range of the demand for its product. B) in the unit elastic range of the demand for its product. C) in the elastic range of the demand for its product. D) maximizing revenue but not profits.
Economics