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  1. Topics
  2. Business
  3. Microeconomics Study Set 26
  4. Quiz 11: Output and Costs

In the Above Table, Diminishing Marginal Returns Start to Occur

Question 122
Multiple Choice

In the above table, diminishing marginal returns start to occur when the A) 3rd worker is employed. B) 4th worker is employed. C) 5th worker is employed. D) 6th worker is employed.

Related questions
Q 123
If a firm's marginal product of labor is less than its average product of labor, then an increase in the quantity of labor it employs definitely will A) decrease its total product. B) decrease its average product of labor. C) increase its marginal product of labor. D) not change its average product of labor.
Q 124
Which of the following statements is true? A) When marginal product is less than average product, average product is increasing. B) When marginal product is less than average product, average product is decreasing. C) When marginal product is falling, average product is decreasing. D) When marginal product is rising, average product is decreasing.
Q 125
Which of the following statements is true? A) If average product equals marginal product, average product decreases. B) If marginal product equals average product, average product is a maximum. C) If marginal product equals average product, marginal product is a maximum. D) If marginal product exceeds average product, marginal product increases.
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