Barry's Brewpub Is Considering Hiring More Brewmasters

question 238

Multiple Choice

Barry's Brewpub is considering hiring more brewmasters.A pint of brew sells for $3.The market wage of a brewmaster is $150 per day.Assuming that the market for beer is perfectly competitive,Barry's Brewpub will hire another brewmaster only if Barry believes that the new brewmaster will:

• A) produce the same number of pints per day as the last brewmaster hired.
• B) produce 50 or more pints per day.
• C) raise average production to 50 or more pints per day.
• D) increase the marginal product by $150 per day.

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Definitions:

Recall

The process of retrieving information from memory without the aid of cues.

Flashbulb Memories

Detailed and vivid memories of surprising and emotionally significant events that appear to be recorded in the mind like a photograph.

Eidetic Memories

The ability to recall images, sounds, or objects in memory with extreme precision and in seemingly unlimited volume, often referred to as photographic memory.

Photographic Memories

An ability to vividly recall images with high precision for a brief period after seeing them, often referred to as eidetic memory.