Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed. Number of Workers Units of Output 45 100 160 230 320 400 The marginal product of the sixth worker is Multiple Cholce 400 units of output. 90 units of output 80 units of output. -5 units of output.

Q: Which curve doesn’t have u-shape

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: you find your opinion leaning towards traditional or behavioral economic beliefs?

A: Answer in step 2

Q: What’s the invisible hand?

A: The concept of the invisible hand was introduced by Adam Smith in his 1759 book The Theory of Moral…

Q: Answers are A and B, D and E, E and F, F and H, or H and I

A: The indifference curve depicts the combination of two goods that derives the same level of utility…

Q: Why is the answer different to the answers for this question? The questions are all the same.

A: The questions are all not the same. Here is only one question. And rest are the option of the…

Q: Why is this answer different to the other answers for the same question?

A: Cournot model is an economic model wherein contending firms pick an amount to create freely and all…

Q: Much of modern economic thought believes people to be, generally speaking, rational and…

A: Almost all the major economic theories are based upon assumptions which are necessary to hold them…

Q: Goods that can be used to replace one another are called What?

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: How can you describe the “self” as cognitive construct?

A: The individuals in each society have a different kind of mindset. The individuals behave…

Q: Why studying economics is fun and why it is useful in personal level?

A: The study of how individuals, groups, and nations manage and use resources is at the heart of…

Q: What concept uses observable qualities in order to fill in missing informationwhen making a…

A: Where there is information missing in the market, that is only one party in the transaction has full…

Q: On what are the Economic decisions based?

A: Economic decisions are the decisions made by the economic agents to pursue a goal and achieve a…

Q: what is economics

A: Answer to the question is as follows :

Q: what is economic phenomena

A: Unemployment is the situation in which an employable individual seeking a job but cannot find one.