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When a firm uses four machines, it can produce 300 units daily.A fifth machine allows the firm to product 440 units. Which of the following
When a firm uses four machines, it can produce 300 units daily.A fifth machine allows the firm to product 440 units.
Which of the following is true regarding production?
- The marginal product for the fifth machine is 140 units and the average product is 88 units.
- The marginal product for the fourth machine is 300 and the average product is 75 units
- The marginal production for the fifthmachineis 440 units and total production would be 740 units.
- The total production for nine machineswould be 740 units with an average production of 123.33 units.
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