Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Labor Total product Marginal workers per day) Average (units per day) product product 0 0 0 0 2 2 2 N 8 3 12 4

image text in transcribed
image text in transcribed
Labor Total product Marginal workers per day) Average (units per day) product product 0 0 0 0 2 2 2 N 8 3 12 4 15 16 15. In the above table, the marginal product of the fourth worker is a) 1. b) 2. C ) 3 . d) 4. 16. In the above table, the marginal product of the third worker is a) 1. b ) 2 . C) 3. d) 4. 17. In the above table, the marginal product of the second worker is a) 1. b) 3. C ) 4. d) 6. 18. In the above table, the marginal product is greatest when the a) first worker is hired. b) second worker is hired. c) third worker is hired. d) fourth worker is hired. 19. In the above table, the average product of three workers is a) 1. b ) 2. C) 3. d) 4

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Administration And Law

Authors: David H Rosenbloom, Rosemary O'Leary, Joshua M Chanin

3rd Edition

1439803986, 9781439803981

More Books

Students also viewed these Economics questions

Question

Which of the following is an email protocol?

Answered: 1 week ago

Question

What is Accounting?

Answered: 1 week ago

Question

Define organisation chart

Answered: 1 week ago

Question

What are the advantages of planning ?

Answered: 1 week ago

Question

Explain the factors that determine the degree of decentralisation

Answered: 1 week ago

Question

What Is acidity?

Answered: 1 week ago

Question

Annoyance about a statement that has been made by somebody

Answered: 1 week ago

Question

Self-confidence

Answered: 1 week ago