Margaret owns a stuffed animal shop. at first, it is just her daughter allison and her hand‑sewing stuffed bears, stuffed sharks, and stuffed giraffes in the spare bedroom. over time, margaret decides to rent a larger shop and hire more workers to out, increasing to a staff of 20 people. everything is still hand sewn. she notices, however, that her stuffed animal output increased much more than tenfold despite her work force increasing by that amount. however, any more than 20 workers slows down production.

a. increased average cost.
b. alternative production technologies
c. economies of scale
d. increasing marginal productivity

Match the vocabulary word to the correct definition. 1. human resources department 2. job description 3. ethics 4. labor relations 5. occupational safety & health administration a. a detailed list of the functions and requirements for a position b. the exchange between the employer and employee c. principles that define appropriate conduct d. the government agency responsible for monitoring safety in the workplace e. the division of a business responsible for hiring, managing, maintaining, and firing the workforce

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

If a team of three workers, each making the u. s. federal minimum wage, produced these 12 rugs, what would the total labor cost be? don't forget that these workers would be working overtime.