Here is a simple economic experiment that takes about 15 minutes to run. The instructor places a

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Here is a simple economic experiment that takes about 15 minutes to run. The instructor places a stapler and a stack of paper on a table. Students produce “fold-its” by folding a page of paper in thirds and stapling both ends of the folded page. One student is assigned to inspect each fold-it to be sure that it is produced correctly. The experiment starts with a single student, or worker, who has one minute to produce as many fold-its as possible. After the instructor records the number of fold-its produced, the process is repeated with two students, three students, four students, and so on. How does the number of fold-its change as the number of workers increases?

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Macroeconomics Principles Applications And Tools

ISBN: 123885

8th Edition

Authors: Arthur OSullivan ,Steven Sheffrin ,Stephen Perez

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