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1) Assume that the only variable factor of production used to produce output is labour. There are increasing marginal returns through the: Amount of Labour
1) Assume that the only variable factor of production used to produce output is labour. There are increasing marginal returns through the:
Amount of Labour | Total Product |
1 | 6 |
2 | 16 |
3 | 24 |
4 | 30 |
5 | 34 |
6 | 36 |
Multiple Choice
- second unit of labour.
- third unit of labour.
- fourth unit of labour.
- first unit of labour.
2)The following table provides information on the production of a product that requires one variable input. When the marginal product is zero, then total product is:
Input | Total product |
0 | 0 |
1 | 5 |
2 | 20 |
3 | 32 |
4 | 42 |
5 | 50 |
6 | 55 |
7 | 58 |
8 | 58 |
9 | 56 |
Multiple Choice
- 50.
- 56.
- 58.
- 55.
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