which of the following best describes marginal product? A.)Left over output- the loaves a bakery makes but does not sell that goes unused. B.) The total number of loaves a bakery can create with 5 workers and a fixed amount of capital. C.) The loaves made by a bakery using a substandard quality flour that ultimately harms business profits. D.) When the number of bakery staff increases from 2 to 3 bakers, 5 additional loaves are made
which of the following best describes marginal product? A.)Left over output- the loaves a bakery makes but does not sell that goes unused. B.) The total number of loaves a bakery can create with 5 workers and a fixed amount of capital. C.) The loaves made by a bakery using a substandard quality flour that ultimately harms business profits. D.) When the number of bakery staff increases from 2 to 3 bakers, 5 additional loaves are made
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
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which of the following best describes marginal product?
A.)Left over output- the loaves a bakery makes but does not sell that goes unused.
B.) The total number of loaves a bakery can create with 5 workers and a fixed amount of capital.
C.) The loaves made by a bakery using a substandard quality flour that ultimately harms business profits.
D.) When the number of bakery staff increases from 2 to 3 bakers, 5 additional loaves are made.
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