ATLANTA (AP) - Jim Fregosi, a former All-Star who won more than 1,000 games as a manager for four teams, died Friday after an apparent stroke. He was 71.
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ATLANTA (AP) - State schools Superintendent John Barge said Friday that he will run for governor next year, setting up what will likely be a heated Republican primary against Gov. Nathan Deal in which education and school funding will be major issues.
ATLANTA (AP) - State labor officials say metro Atlanta's unemployment rate has risen to 8.9 percent.
LONDON (AP) - Royal officials say Britain's new prince has been named George Alexander Louis.
Let's work through an example. Suppose 100 yards of fence could be built using one of two techniques. You could hire three low-skilled workers for $15 each, or you could hire one high-skilled worker for $40. Either way, you get the same 100 yards of fence built. If you sought maximum profits, which production technique would you employ? I'm guessing that you'd hire one high-skilled worker and pay him $40 rather than hire three low-skilled workers for $15 each. Your labor costs would be $40 rather than $45.
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