Use Table 3 to answer question

What is the average product of the first three hours of labour?

Use Table 3 to answer question

What is the marginal product of the third hour of labour?

Use Table 3 to answer question

What is the total output when 2 hours of labour are employed?

Suppose that a sole proprietorship is earning total revenues of Rs.100,000 and is incurring explicit costs of Rs.75,000. If the owner could work for another company for Rs.30,000 a year, we would conclude that:

If the local pizzeria raises the price of a medium pizza from Rs.60 to Rs.100 and quantity demanded falls from 700 pizzas a night to 100 pizzas a night, using arc Elasticity Method the price elasticity of demand for pizzas is: (Use arc Elasticity Method)

A discount store has a special offer on CDs. It reduces their price from Rs.150 to Rs.100. Suppose the store manager observes that the quantity demanded increases from 700 CDs to 1,300 CDs. What is the price elasticity of demand for CDs? (Use arc Elasticity Method)

Suppose a department store has a sale on its silverware. If the price of a plate-setting is reduced from Rs. 300 to Rs.200 and the quantity demanded increases from 3,000 platesettings to 5,000 plate-settings, what is the price elasticity of demand for silverware? (Use arc Elasticity Method)

Use Table 2 to answer question

Given the data in Table 2, as one moves from successively from point A to point B, C, D, E and F, the opportunity cost of Good X:

Use Table 2 to answer question

According to Table 2, the opportunity cost of increasing one unit of Good Y from 10 units to 18 units is:

Use Table 2 to answer question

According to Table 2, the opportunity cost of increasing Good X’s production from 2 to 4 units is equal to: