The diagram below shows an agricultural production function.900-800-700-600-500-400-300-200-100-40080012001600200024002800Number of farmersKilogrammes of grain produced (thousands) The function shows diminishing marginal product of labour.Select one:O TrueFalse

The marginal product refers to the change in the total output when the one additional unit of labour…

Answered: 900- 800- 700- 600- 500- 400- 300 200-…

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900- 800- 700- 600- 500- 400- 300 200- 100- 400 800 1200 1600 2000 2400 2800 Number of farmers

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The diagram below shows an agricultural production function.
900-
800-
700-
600-
500-
400-
300-
200-
100-
400
800
1200
1600
2000
2400
2800
Number of farmers
Kilogrammes of grain produced (thousands)

The function shows diminishing marginal product of labour.
Select one:
O True
False

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