Economics 12E - Arnold - TB_170 - 234 Refer to Exhibit 22-14 What is the level of output with 2 and 3 laborers working[blanks(A and(B respectively a 175

Economics 12E - Arnold - TB_170 - 234 Refer to Exhibit...

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234. Refer to Exhibit 22-14. What is the level of output with 2 and 3 laborers working [blanks (A) and (B)], respectively? a. 175 units; 225 units b. 100 units; 175 units c. 100 units; 225 units d. 50 units; 175 units e. none of the above ANSWER: a POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production KEYWORDS: Bloom's: Application 235. Refer to Exhibit 22-14. What is the MPP of the fourth unit of labor [blank (D)]? a. 70 unitsb. 60 unitsc. 100 unitsd. 15 unitsANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production KEYWORDS: Bloom's: Application 236. Refer to Exhibit 22-14. What is the marginal cost of producing this good with 1 and 2 laborers working [blanks (E) and (F)], respectively? POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production
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KEYWORDS: Bloom's: Application 237. Refer to Exhibit 22-14. What is the marginal cost of producing this good with 3 and 4 laborers working [blanks (G) and (H)], respectively? POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production KEYWORDS: Bloom's: Application 238. According to the textbook, Iceland used crowdsourcing to POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production KEYWORDS: Bloom's: Application OTHER: Economics 24/7 NOTES: New Essay 239. What is the typical shape of the AFC curve? Explain why it is shaped this way.
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  • Spring '11
  • Lee
  • Economics, Economics of production

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