Suppose 9 wo total number of repaired 6. the marginal product of the tenth b. a. each worker repairs, on ave average product must be rising because the C. 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. is greater than average product when nine workers are d. All of the above are true Quantity of hats produced per day Labor 20 50 75 100 100 90 hats per day. The marginal product of the second worker is 30 7. a. 20 C. b. 25 d. 8. hats per day. When 3 workers are hired, average product is 50 a. 10 C. b. 25 d. 75 If the marginal product of the fourth worker is 15 units of output, the quantity of hats produced per day when four workers are employed is equal to 9. a. 80 C. 95 90 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition c worker. a. first b. third fourth second C. d. Chapter 9 Assignments 178 50 012 3456O7 b.

Suppose 9 wo total number of repaired 6. the marginal product of the tenth b. a. each worker repairs, on ave average product must be rising because the C. 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. is greater than average product when nine workers are d. All of the above are true Quantity of hats produced per day Labor 20 50 75 100 100 90 hats per day. The marginal product of the second worker is 30 7. a. 20 C. b. 25 d. 8. hats per day. When 3 workers are hired, average product is 50 a. 10 C. b. 25 d. 75 If the marginal product of the fourth worker is 15 units of output, the quantity of hats produced per day when four workers are employed is equal to 9. a. 80 C. 95 90 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition c worker. a. first b. third fourth second C. d. Chapter 9 Assignments 178 50 012 3456O7 b.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 15P

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Similar questions

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