Use the following to answer questions :
Figure: The Marginal Product of Labour
-(Figure: Marginal Product of Labour) Use Figure: The Marginal Product of Labour.The total product of labour for five workers is _____ kilograms.
A) 11
B) 45
C) 55
D) 75
Correct Answer:
Verified
Q3: If two firms are identical in all
Q4: The term diminishing returns refers to a:
A)falling
Q6: If two firms are identical in all
Q10: In economics,the short run is:
A)less than 1
Q12: In the long run:
A)all inputs are fixed.
B)inputs
Q14: The _ is the increase in output
Q18: In the short run:
A)all inputs are fixed.
B)all
Q19: Diminishing returns to an input occur:
A)when all
Q20: An input whose quantity CANNOT be changed
Q20: The long run is a planning period:
A)
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