Suppose a certain firm is able to produce 165 units of output per day when 15 workers are hired. The firm is able to produce 181 units of output per day when 16 workers are hired, holding other inputs fixed. The marginal product of the 16th worker is

The "tragedy of the commons" refers to a phenomenon where

A) people do not internalize an externality. B) people have distinct property rights to a resource. C) people overuse a common resource. D) individuals are not allowed to use a common resource.

In the 1920s, American (non-farm) labor benefited from all of the following except:

a. low unemployment rates. b. falling weekly work hours. c. legal limits on immigration. d. passage of federal minimum wage legislation.