Multiple Choice
Consider the following information for a hypothetical
Economy: If the price per bicycle is $20 and the wage
Per worker is $40, then what is the marginal product of
Labor?
A) 20 bicycles
B) 2 bicycles
C) 0.5 bicycle
D) 1 bicycle
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Suppose that the Home country in the
Q30: A "specific" factor of production is:<br>A) critical
Q103: The absence of trade is known as:<br>A)alitartky.<br>B)oligarchy.<br>C)autarky.<br>D)embargo.<br>
Q107: The specificfactors model is termed a "shortrun"
Q109: As a nation begins to export, its
Q110: One reason that nations impose agricultural quotas
Q111: In the specificfactors model, suppose that a
Q112: Suppose that the wage is $20 per
Q113: Suppose that the Home country in the
Q131: Coffee prices fell in the 1990s because