To answer,refer to the following: "At Huffy's ...bicycle factory,1,700 employees turn out 15,000 bicycles a day in 1987).Five years before,it required 2,200 workers to make 10,000 bikes daily." The Wall Street Journal).
In 1987,
A)total product was 15,000 bicycles per day.
B)the average product of labor was 0.11.
C)the marginal product of labor was 8.8.
D)both a and b
E)both a and c

Question

Quizplus · Accepted Answer

Option A is true as the article states that 15,000 bicycles were produced per day in 1987. Option B can be calculated as the total number of bicycles produced per day divided by the number of employees, which is 15,000/1,700=8.8. Therefore, option D is the correct answer. Option C is incorrect as the marginal product of labor cannot be determined from the information given in the article.

To Answer,refer to the Following: "At Huffy's