Here is a simple economic experiment that takes about 15 minutes to run. The instructor places a
Question:
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?
Step by Step Answer:
Macroeconomics Principles Applications And Tools
ISBN: 123885
8th Edition
Authors: Arthur OSullivan ,Steven Sheffrin ,Stephen Perez