The marginal product of labor is equal to the
A) total product divided by the total number of workers hired.
B) increase in the total product that results from hiring one more worker with all other inputs remaining the same.
C) slope of the marginal product of labor curve.
D) None of the above answers are correct.
B
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In the context of a roulette wheel, gambler's fallacy refers to the belief that:
A) outcomes of a gamble are mostly repetitive. B) winners in a gamble lose the next round. C) outcomes of a gamble tend to avoid repeats. D) winners in a gamble continue to win in streaks.
The exchange rate between yen and dollars at one point in 2010 was 83 yen per dollar. If a Big Mac, fries, and a Coke cost $3.91 in San Francisco, how much should the same order cost in yen in Osaka?
A. 0.03 B. 325 C. 392 D. 422