Question
Use the following to answer questions 26-33 Labor Total Product Mp Ap 1 5 5 5 2 12 7 6 3 21 ....... 7 4
Use the following to answer questions 26-33
Labor Total Product Mp Ap
1 5 5 5
2 12 7 6
3 21 ....... 7
4 31 10 7.75
5 40 9 8
6 48 8 ........
7 ......... 6 7.71
8 57 3 7.12
9 57 0 6.33
10 54 -3 5.4
26.
(Table) In the table, what is the MP of the third worker?
A)
7
B)
8
C)
9
D)
10
27.
(Table) In the table, what is the AP of the sixth worker?
A)
8.5
B)
8
C)
7.75
D)
There is not enough information to answer this question.
28.
(Table) In the table, what is the output with 7 workers?
A)
50
B)
51
C)
54
D)
55
29.
(Table) In the table, the marginal product for the fourth worker is:
A)
10.
B)
13.
C)
14.
D)
12.
30.
(Table) In the table, as long as marginal product is greater than average product:
A)
the average product declines.
B)
the marginal product will be negative.
C)
the average product rises.
D)
the average product will be negative.
31.
(Table) In the table, increasing marginal returns take place:
A)
for the first 3 workers.
B)
for the first 4 workers.
C)
for all 10 workers.
D)
for the first 5 workers.
32.
(Table) In the table, diminishing marginal returns begin with the:
A)
sixth worker.
B)
fifth worker.
C)
seventh worker.
D)
eighth worker.
33.
(Table) In the table, negative marginal returns occur beginning with worker:
A)
5.
B)
7.
C)
9.
D)
10.
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