Ganswer the next question(s) based on the following information for manfred's shoe shine parlor. units of labor total product marginal product total revenue 0 0 1 14 14 $42 2 10 3 30 90 4 35 5 39 117 6 126 7 44 2 132 assume manfred hires labor, its only variable input, under purely competitive conditions. shoe shines are also sold competitively. what is the marginal product of the sixth worker?

Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?

To appeal to a new target market, the maker of hill's coffee has changed the product's package design, reformulated the coffee, begun advertising price discounts in women's magazines, and started distributing the product through gourmet coffee shops. what has been changed? a. the product's perceptual value. b. the product's 4ps. c. the method used in its target marketing. d. the ownership of the product line. e. the product's utility.

Which of the following is one of the main causes of inflation? a. wages drop so workers have to spend a higher percentage of income on necessities. b. demand drops and forces producers to charge more to meet their costs. c. rising unemployment cuts into national income. d. consumers demand goods faster than they can be supplied.