Suppose 9 workers ca total number of repaired T.V. each worker repairs, on avera the marginal product of the tenth wo average product must be rising because the is greater than average product when nine worker 6. a. b. C. yon the edge of town. There is d. All of the above are true Use the information below to answer questions 7 through 10. a fixed amount of capital used to produce the hats, yet plenty of labor is available for Hal's Holiday Hats produces Santa hats in a small factory work. The following table is a hypothetical production schedule for Hal's shop. Quantity of hats produced per day Labor 0. 20 50 75 3 4. 100 100 6. 90 hats per day. The marginal product of the second worker is 30 7. a. 20 C. b. 25 50 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 b. 90 C. 95 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition of th 66 worker. a. first b. second C. third fourth d. Chapter 9 Assignments 178

Suppose 9 workers ca total number of repaired T.V. each worker repairs, on avera the marginal product of the tenth wo average product must be rising because the is greater than average product when nine worker 6. a. b. C. yon the edge of town. There is d. All of the above are true Use the information below to answer questions 7 through 10. a fixed amount of capital used to produce the hats, yet plenty of labor is available for Hal's Holiday Hats produces Santa hats in a small factory work. The following table is a hypothetical production schedule for Hal's shop. Quantity of hats produced per day Labor 0. 20 50 75 3 4. 100 100 6. 90 hats per day. The marginal product of the second worker is 30 7. a. 20 C. b. 25 50 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 b. 90 C. 95 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition of th 66 worker. a. first b. second C. third fourth d. Chapter 9 Assignments 178

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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