A lawn service company has the following production possibilities. With one, two, three, and four workers, the company can mow 4, 9, 12, and 14 lawns per day, respectively. 13) Refer to Scenario 7.7. Diminishing returns to labor set in with the ________ worker. A) first B) second C) third D) fourth 14) Refer to Scenario 7.7. The average product of labor with four workers is A) 3. B) 3.5. C) 4. D) 14. 15) If the marginal product of labor is less than the average product of labor, then the A) marginal product must be increasing. B) average product must be decreasing. C) marginal product must be decreasing. D) Both B and C
A lawn service company has the following production possibilities. With one, two, three, and four workers, the company can mow 4, 9, 12, and 14 lawns per day, respectively. 13) Refer to Scenario 7.7. Diminishing returns to labor set in with the ________ worker. A) first B) second C) third D) fourth 14) Refer to Scenario 7.7. The average product of labor with four workers is A) 3. B) 3.5. C) 4. D) 14. 15) If the marginal product of labor is less than the average product of labor, then the A) marginal product must be increasing. B) average product must be decreasing. C) marginal product must be decreasing. D) Both B and C
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter7: Production, Inputs, And Cost: Building Blocks For Supply Analysis
Section: Chapter Questions
Problem 9TY
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SCENARIO 7.7: A lawn service company has the following production possibilities. With one, two, three, and four workers, the company can mow 4, 9, 12, and 14 lawns per day, respectively.
13) Refer to Scenario 7.7. Diminishing returns to labor set in with the ________ worker.
A) first B) second C) third D) fourth
14) Refer to Scenario 7.7. The average product of labor with four workers is
A) 3. B) 3.5. C) 4. D) 14.
15) If the marginal product of labor is less than the average product of labor, then the
A) marginal product must be increasing. B) average product must be decreasing.
C) marginal product must be decreasing. D) Both B and C
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