Before Sarah quit her job as a carpenter, she was earning $35,000 per year. She rented a building for $12,000 per year and opened a cabinet shop.
September 3, 2020
8. Refer to Figure 7-2. Which area represents consumer surplus at a price of P2? 9. Refer to Table 5-2. Which of the three supply curves represents
September 3, 2020

Frosty Cola’s chief operating officer is very interested in finding out about the average   productivity of the company’s workers. Institutional research has given you the          following information:

Labor                          Output (bottles)

============================

0                                            0

1                                  20,000

2                                  50,000

3                                  95,000

4                                 150,000

5                                 210,000

6                                 250,000

7                                 280,000

8                                 300,000

9                                 305,000

10                               306,000

11                               303,000

Specifically, he’s interested in knowing all of the per worker output for every employee that is operating in the area of diminishing marginal returns.

KM
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