Graph 13-4
-Refer to Graph 13-4.Which of the following can be inferred from the figure shown?
(i) marginal costs vary for different levels of output
(ii) diminishing marginal product does not occur directly after the first worker
(iii) marginal product of the second worker exceeds that of the first
A)(i) and (ii)
B)(ii) and (iii)
C)(i) and (iii)
D)(i), (ii) and (iii)

Question

Graph 13-4 
-Refer to Graph 13-4.Which of the following can be inferred from the figure shown?
(i) marginal costs vary for different levels of output
(ii) diminishing marginal product does not occur directly after the first worker
(iii) marginal product of the second worker exceeds that of the first
A)(i) and (ii) 
B)(ii) and (iii) 
C)(i) and (iii) 
D)(i), (ii) and (iii)

Quizplus · Accepted Answer

The graph likely shows that marginal costs change with different output levels, indicating varying marginal costs (i). Diminishing marginal product not occurring right after the first worker (ii) suggests that the marginal product may initially increase before it starts to decrease, which is a common occurrence in production processes. If the marginal product of the second worker exceeds that of the first (iii), it implies an initial increase in productivity with additional workers, which is typical in scenarios where additional inputs (like labor) initially contribute to greater increases in output.

Graph 13-4 -Refer to Graph 13-4.Which of the Following Can Be Inferred