Question
When a firm uses five laborers, it can produce 600 units daily. A sixth laborer allows the firm to produce 900 units daily. Which of
When a firm uses five laborers, it can produce 600 units daily. A sixth laborer allows the firm to produce 900 units daily.
Which of the following is true regarding production?
The average product for the sixth laborer is 100 units
The total product for the sixth laborer is 600 units.
The total product for the sixth laborer is 1,500 units.
The average product for the sixth laborer is 150 units.
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
