Negative marginal productivity means that (please choose all the answers that are correct) 1. profits are still increasing as additional units are produced and sold 2. output is increasing. 3. the marginal productivity is decreasing. 4. total output is decreasing as additional factors are used 5. total productivity is also negative

Negative marginal productivity means that (please choose all the answers that are correct) 1. profits are still increasing as additional units are produced and sold 2. output is increasing. 3. the marginal productivity is decreasing. 4. total output is decreasing as additional factors are used 5. total productivity is also negative

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Costs And The Supply Of Goods

Section: Chapter Questions

Problem 19CQ

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Only typed answer and please don't use chatgpt 11) Marginal product is: A) total product divided by the number of workers employed. B) the increase in total cost attributable to the employment of one more worker. C) the increase in total revenue attributable to the employment of one more worker. D) the increase in total output attributable to the employment of one more worker.
Marginal product is: a. the change in total product divided by the change in the quantity of labor. b. total product divided by the quantity of labor. c. always positive. d. unrelated to total product.
1.What is the total quantity produced when the firm employs 8 workers? ___ Units 2. What is the average product of labor when the firm employs 14 workers? ____ Units 3. The firm begins to experience diminishing returns after ___ Workers are hired
Question 2 If the slope of the total productivity line is decreasing as output increases, what does that say about marginal productivity a. increasing b. decreasing c. constant d. cannot be deter Full explain this question and text typing work only thanks
The average product of labour is the output per employee often called labour productivity. Use the information in table 17.1 to answer the question below. Table 17.1 Output units Number of employees 1 000 10 2 500 20 6 000 30 7 000 40 8 000 50 As the number of employees increases from 10 to 50 the average product of labour: a) Is constant b) Falls then rises c) Rises d) Falls
Total factor productivity refers to: a. total production in the economy b. all factors of production c. total production in the economy due to the primary factors of production d. factors of production other than the primary factors
Explain production function by describing Total (TP), Average (AP) and Marginal Product (MP). Use the graphic illustration to clarify descriptions.
Question 17 The ________ marginal product of labor occurs because the amount of fixed inputs per labor declines as more workers are hired.The average product of labor__________ if the marginal product of labor is greater than the average product of labor.Increasing: DecreasesDiminishing: DecreasesDiminishing: Increases Increasing: Increases
(12) When marginal product reaches its maximum, what can be said of total product? (a) total product must be at its maximum (b) total product starts to decline even if marginal product is positive (c) total product is increasing if marginal product is still positive (d) total product levels off
What is the difference between total and marginal product? Total product is the output produced; marginal product is the change in total output with respect to the change in one unit of output. Total product is only related to revenue while marginal product is only related to cost. They are the same; there is no difference. Total product is the change in total output with respect to the change in one unit of output; marginal product is the output produced.
A company produces children's toys. The manager noticed the connection between the number of employed workers and the quantity of toys produced per month, which are presented in the table of following: a) In what period is this firm operating? Why? b) What is the average product when 5 workers are employed? c) What is the marginal product when 7 workers are employed? What does this value mean? d) Does the law of declining marginal income apply? If yes to which worker? e) In this production function do we have total declining revenues? If so, which worker happens? f) Graph the curves of total product (TP), marginal product (MP) and product average (AP).
Labor 2 3 4 5 6 7 8 9 10 11 TP of labor 10 20 38 40 38 34 AP of labor 7 6.8 5 3.4 MP of labor 8 6 2 -6 Fill in the missing values in the table. Based on your answers to (a), draw the total product, average product and marginal product of labor curves. (Please do not use graphing paper) What will happen to the firm’s total product of labor curve if it decides to use more capital. Explain your answer.

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	1.	profits are still increasing as additional units are produced and sold
	2.	output is increasing.
	3.	the marginal productivity is decreasing.
	4.	total output is decreasing as additional factors are used
	5.	total productivity is also negative.