SECTION#_\ -03 NAME_ ONa, Noemi Dliva Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and total number of repaired T.V. sets increases to 39, then: each worker repairs, on average, 4 T.V. sets per day when nine workers are hired the marginal product of the tenth worker is 3.9 T.V. sets. average product must be rising because the marginal product of the tenth worker is greater than average product when nine workers are hired. All of the above are true PRINT LAST NAME, FIRST NAME 6. a. b. C. d. Use the information below to answer questions 7 through 10. Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is a fixed amount of capital used to produce the hats, yet plenty of labor is available for work. The following table is a hypothetical production schedule for Hal's shop. Labor Quantity of hats produced per day 0. 20 50 75 100 100 90 The marginal product of the second worker is 20 hats per day. a. C. 30 b. 25 d. 50 When 3 workers are hired, average product is 10 hats per day. a. C. 50 b. 25 012 345 67
SECTION#_\ -03 NAME_ ONa, Noemi Dliva Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and total number of repaired T.V. sets increases to 39, then: each worker repairs, on average, 4 T.V. sets per day when nine workers are hired the marginal product of the tenth worker is 3.9 T.V. sets. average product must be rising because the marginal product of the tenth worker is greater than average product when nine workers are hired. All of the above are true PRINT LAST NAME, FIRST NAME 6. a. b. C. d. Use the information below to answer questions 7 through 10. Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is a fixed amount of capital used to produce the hats, yet plenty of labor is available for work. The following table is a hypothetical production schedule for Hal's shop. Labor Quantity of hats produced per day 0. 20 50 75 100 100 90 The marginal product of the second worker is 20 hats per day. a. C. 30 b. 25 d. 50 When 3 workers are hired, average product is 10 hats per day. a. C. 50 b. 25 012 345 67
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 15P
Related questions
Question
Question 6
Transcribed Image Text:SECTION#_\ -03
NAME_ ONa, Noemi
Dliva
Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and
total number of repaired T.V. sets increases to 39, then:
each worker repairs, on average, 4 T.V. sets per day when nine workers are hired
the marginal product of the tenth worker is 3.9 T.V. sets.
average product must be rising because the marginal product of the tenth worker
is greater than average product when nine workers are hired.
All of the above are true
PRINT LAST NAME, FIRST NAME
6.
a.
b.
C.
d.
Use the information below to answer questions 7 through 10.
Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is
a fixed amount of capital used to produce the hats, yet plenty of labor is available for
work. The following table is a hypothetical production schedule for Hal's shop.
Labor
Quantity of hats produced per day
0.
20
50
75
100
100
90
The marginal product of the second worker is
20
hats per day.
a.
C.
30
b.
25
d.
50
When 3 workers are hired, average product is
10
hats per day.
a.
C.
50
b.
25
012 345 67
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning