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Which of the following statements concerning the marginal-physical-product curve above is true?
A)
Total physical product reaches a maximum between 7 and 8 workers.
B)
The total physical product of the first unit of labor is 100.
C)
The marginal physical product of the first unit of labor is 100.
D)
The average physical product of the first unit of labor is 100.
E)
All of the above.
It can be determined from the marginal-physical-product curve shown above that
A)
marginal physical product reaches a minimum with the first worker.
B)
total physical product reaches a maximum with the eighth worker.
C)
marginal physical product reaches a maximum with the eighth worker.
D)
total physical product reaches a maximum between seven and eight workers.
E)
total physical product reaches a maximum with the second worker.
In the marginal-physical-product curve shown above, the firm experiences diminishing marginal product after the quantity of labor reaches
A)
8.
B)
7.
C)
2.
D)
1.
E)
4.
http://tinypic.com/r/2ur7adl/5
| | Which of the following statements concerning the marginal-physical-product curve above is true? | |
| A) | Total physical product reaches a maximum between 7 and 8 workers. | |
| B) | The total physical product of the first unit of labor is 100. | |
| C) | The marginal physical product of the first unit of labor is 100. | |
| D) | The average physical product of the first unit of labor is 100. | |
| E) | All of the above. | |
| | It can be determined from the marginal-physical-product curve shown above that | |
| A) | marginal physical product reaches a minimum with the first worker. | |
| B) | total physical product reaches a maximum with the eighth worker. | |
| C) | marginal physical product reaches a maximum with the eighth worker. | |
| D) | total physical product reaches a maximum between seven and eight workers. | |
| E) | total physical product reaches a maximum with the second worker. | |
| In the marginal-physical-product curve shown above, the firm experiences diminishing marginal product after the quantity of labor reaches | ||
| A) | 8. | |
| B) | 7. | |
| C) | 2. | |
| D) | 1. | |
| E) | 4. | |
Related textbook solutions
Related questions
|
Quality of labor (workers) |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
|
Total product (units per hour) |
0 |
2 |
5 |
9 |
15 |
18 |
17 |
The table above shows the total product schedule for The X Firm. Decreasing marginal returns occur with the ________ worker because ________.
a. 6th; output starts to decline.
b. 6th; the marginal product of labor is greater than the average product of labor.
c. 5th; the marginal product of labor for the 5th worker is less than the marginal product of the 4th worker.
d. 4th; output reaches is maximum.
e. 5th; the average product of labor is also declining.
