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Questions 23 to 25 refer to the following table, which represents the production of gizmos.   Labor   Output   Marginal product of labor  Average product  of labor 0 0 – – 1 10 10 10 2 30  ? 15 3 45 15  ? 4  ? 11  14 What is the marginal product of the second worker? What is the average product when the firm employs three workers?

For the previous question, what is the p-value of the hypothesis test?

The table below represents the quantity and total revenue of a firm in a competitive market. Quantity Total Revenue 0 $0 1 $5 2 $10 3 $15 4 $20 For this firm, the marginal revenue________and the price________.

The price received by the seller before the tax is ________ per compact disc, and the price received and kept by the seller after the tax is ________ per compact disc.

If the local housing authorities impose a rent ceiling of $500 per month, which of the following would occur?

The marginal product of labor becomes negative

When a unit tax is imposed on sellers, the supply curve shifts so that the vertical distance between the old and the new supply curve equals the

Questions 2 and 3 refer to the following. Suppose the graph depicts the market for rental apartments in Indianapolis.  If the local housing authorities impose a rent ceiling of $1,000 per month, the ceiling will

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“wilt” Listen to the recording below.  Type the symbol for the vowel or diphthong sound in the word. You do not need to transcribe the consonants this time, just the vowel or diphthong.