Question
What can a firm do to increase productivity in the short run once its marginal product is zero? ANSWER CHOICES: A)Increase the quantity of the
What can a firm do to increase productivity in the short run once its marginal product is zero?
ANSWER CHOICES:
A)Increase the quantity of the input.
B)Decrease the quantity of the input.
C)Lower the price of its product.
D)Raise the price of its product.
E)Nothing, as more workers decreases total product.
( I chose B and it was not correct)
Number of Workers Total Sloths Shaved in an Hour
0 0
1 3
2 7
3 12
4 16
5 19
Based on the production data above for a sloth-shaving boutique, which of the following statements is true?
ANSWER CHOICES:
A)The marginal product of the second worker is 5 sloths.
B)Diminishing marginal returns begin immediately with the first worker.
C)The average product for the third worker is 11 sloths.
D)The marginal product of the fourth worker is 4 sloths.
E)Adding a sixth worker would lower the total number of sloths shaved.
(I chose E and It was not correct)
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