Question
#of workers 0 1 2 3 4 #of widgets 0 18 32 44 54 5. Based on the above information, the above production function is
#of workers | 0 | 1 | 2 | 3 | 4 |
#of widgets | 0 | 18 | 32 | 44 | 54 |
5. Based on the above information, the above production function is increasing with respect to labor. A) True B) False C) Cannot be determined 6. Based on the above information, what is the marginal product of the first worker? A) 10 B) 12 C) 14 D) 16 E) 187. Based on the above information, what is the marginal product of the second worker? A) 10 B) 12 C) 14 D) 16 E) 18 8. Based on the above information, what is the marginal product of the third worker? A) 10 B) 12 C) 14 D) 16 E) 18 9. Based on the above information, what is the marginal product of the fourth worker? A) 10 B) 12 C) 14 D) 16 E) 18 10. Does the above production function has diminishing returns to labor. A) True B) False C) Cannot be determined
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