1) The following table shows the production function for a firm. Number of workers Average productivity 1 6 2 8 3 9 4 9.25 5 9.30 6 9.32 Which worker represents the first decline in marginal productivity? A- 3rd. B-4th. C-5th D-6th. E- Productivity increases across the range given
1) The following table shows the production function for a firm. Number of workers Average productivity 1 6 2 8 3 9 4 9.25 5 9.30 6 9.32 Which worker represents the first decline in marginal productivity? A- 3rd. B-4th. C-5th D-6th. E- Productivity increases across the range given
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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(1) The following table shows the production function for a firm.
| Number of workers | Average productivity |
|---|---|
| 1 | 6 |
| 2 | 8 |
| 3 | 9 |
| 4 | 9.25 |
| 5 | 9.30 |
| 6 | 9.32 |
Which worker represents the first decline in marginal productivity?
A- 3rd. B-4th. C-5th D-6th. E- Productivity increases across the range given
(2)A company hires workers to develop phone apps. The following table shows the marginal productivity of each worker.
| Number of Workers | Marginal Product |
| 1 | 8 |
| 2 | 9 |
| 3 | 10 |
| 4 | 10.5 |
| 5 | 9.75 |
| 6 | 9.5 |
What is the total product of employing the third worker?
A- 1. B-9. C-10. D-27. E-30
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