Question
When a firm uses five machines, it can produce 600 units daily. Asixth machine allows the firm to product 880 units. Which of the following
When a firm uses five machines, it can produce 600 units daily. Asixth machine allows the firm to product 880 units. Which of the following is true regarding production?
The total production for 11 machineswould be 1,480 units with an average production of 164 units.
The marginal product for the fifth machine is 600 and the average product is 120 units.
The marginal production for the sixth machineis 880 units and total production would be 1,480 units.
The marginal product for the sixth machine is 280 units and the average product is 147 units.
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Climate Policy And Nonrenewable Resources The Green Paradox And Beyond
Authors: Karen Vollebergh, Rick Van Der Ploeg
1st Edition
0262319845, 9780262319843
