econ quiz practice11

Question 7 The marginal product of labor is O A. a worker's weekly production. O B. the total number of units each worker is capable of producing. O C. the average number of units produced by each worker. O D. the additional output produced when another worker is hired.Question 9 A consultant for the CAT bus system in Raleigh, North Carolina, estimates that the price elasticity of demand for bus rides is -3.41. If the estimate is correct, it follows that, if bus fare is increased, O A. total revenue will decrease. O B. there will be no effect on bus ridership. O C. bus ridership will increase. O D. total revenue will increase.Question 10 10 points Save Answer The table below shows how the output of surfboards varies in a small factory with the number of workers used per day. Labor Output (Number of Workers per Day) (Number of Surfboards per Day) 5 2 11 3 15 4 17 5 19 Based on these data, the marginal product of workers in the factory O A. will be the same, no matter how many workers are employed. B. increases steadily as more workers are employed. O C. will start to decline when a third worker is employed. O D. is at a maximum when 5 workers are employed