100 DRYERS 8 882 882229 90 80 30 20 O 4 O a. The economy has insufficient resources to produce at a more desirable point. Ob. The economy's available technology prevents it from producing at a more desirable point. Oc. There is widespread unemployment in the economy. Od. The economy is experiencing economic growth. B B 10 20 30 40 50 60 70 80 90 100 WASHERS Figure 2-3 efer to Figure 2-3. Suppose this economy is producing at point D. Which of the following statements would best explain this situation?

100 DRYERS 8 882 882229 90 80 30 20 O 4 O a. The economy has insufficient resources to produce at a more desirable point. Ob. The economy's available technology prevents it from producing at a more desirable point. Oc. There is widespread unemployment in the economy. Od. The economy is experiencing economic growth. B B 10 20 30 40 50 60 70 80 90 100 WASHERS Figure 2-3 efer to Figure 2-3. Suppose this economy is producing at point D. Which of the following statements would best explain this situation?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Nathan owns a bakery that bakes only cakes. All of his bakers work 8 hours per day. In 2006, he employed 5 bakers and they produced 200 cakes each day. In 2007, he employed 6 bakers and they produced 249 cakes each day. In Nathan's bakery, productivity Select one: O a. Increased by 24.,50 percent between 2006 and 2007. O b. Decreased by 2.33 percent between 2006 and 2007. O c Increased by 3.75 percent between 2006 and 2007. d. Increased by 2.33 percent between 2006 and 2007.
QUESTION 9 In one day Amazing company produced 50 shirts in 250 labor hours, What is Amazing company's productivity? O a. 1/5 shirts per hour O b. 5 hours per shirts O C. 50 shirts d. 5 shirts.
3. Total and marginal product Underground Sandwiches, a sandwich shop, has the following marginal product curve (labeled MP) for its hourly production. MARGINAL PRODUCT (Sandwiches per worker) 20 18 16 14 12 10 4 2 0 0 1 O 2 3 LABOR (Workers) O MP 5 When labor increases from two to three workers, total product increases by ? per hour.