Cedar valley furniture uses 5 workers working 8 hours

This preview shows page 3 - 5 out of 14 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
CFIN
The document you are viewing contains questions related to this textbook.
Chapter 4 / Exercise 4-9
CFIN
Besley
Expert Verified
23.Cedar Valley Furniture uses 5 workers working 8 hours to produce 80 rocking chairs. What is the productivity of these workers? a.2 chairs per hour.
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
CFIN
The document you are viewing contains questions related to this textbook.
Chapter 4 / Exercise 4-9
CFIN
Besley
Expert Verified
b.1 hour per chair.c.80 chairs.d.None of the above is correct.____ 24.Which of the following is not correct? ____ 25.Which of the following is true? ____ 26.If a good has become more scarce than we know for surethat ____ 27.If a production function has constant returns to scale, output can be doubled if a.labor alone doubles.b.all inputs but labor double.c.all of the inputs double.d.None of the above is correct.____ 28.Suppose that an American opens and operates a candy factory in Finland. This is an example of ____29.The dictator of Turan has recently begun to arbitrarily seize farms belonging to his political opponents, and he has given the farms to his friends. His friends don't know much about farming. The courts in Turan have ruled that the seizures are illegal, but the dictator has ignored the rulings. Other things equal, we would expect that the growth rate in Turan will ____

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture