Author Question: The above figure shows the short-run production function for Albert's Pretzels. The law of ... (Read 89 times)

roselinechinyere27m · **on:** Jul 1, 2018

The above figure shows the short-run production function for Albert's Pretzels. The law of diminishing marginal productivity

A) appears with the second worker.
B) has not yet appeared for any of the levels of labor.
C) first appears with the fifth worker.
D) is refuted by this evidence.

Question 2

The holdout problem arises when unanimous approval among members of a group is required_____.

a. for a Pareto efficient move to occur
b. for a Pareto superior move to occur
c. for government to decide to undertake the project
d. for government to be able to levy the tax to fund the project