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Author Question: A farm can produce 10,000 bushels of wheat per year with 5 workers and 13,000 bushels with 6 ... (Read 89 times)

abarnes

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A farm can produce 10,000 bushels of wheat per year with 5 workers and 13,000 bushels with 6 workers. The marginal product of the sixth worker for this farm is:
 a. 10,000 bushels.
  b. 3,000 bushels.
  c. 500 bushels.
  d. 23,000 bushels.

Question 2

When economists refer to an economy's price level, they indicate:
 a. the rate of inflation in that economy.
 b. the prices of goods and services relative to consumers' incomes.
  c. a composite measure of prices of all goods and services.
 d. a period of level, or steady, prices in that economy.
 e. the price of a specific consumer good.



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cassie_ragen

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Answer to Question 1

b

Answer to Question 2

c




abarnes

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


jackie

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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