Multiple Choice
Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 5th laborer?
A) 8 cabinets
B) 7 cabinets
C) 6 cabinets
D) 4 cabinets
Correct Answer:
Verified
Correct Answer:
Verified
Q340: When an input represents a larger proportion
Q341: The greater the elasticity of demand for
Q342: When hiring additional workers, a firm operating
Q343: The more inelastic the consumer demand for
Q344: Assume that the labor market is perfectly
Q346: What are the short-run economic effects when
Q347: The following table depicts both the product
Q348: The addition to revenue obtained from hiring
Q349: A firm purchases less capital equipment. We
Q350: Which of the following will lead to