29. The above table shows the short-run total product schedule for the campus book store. When the fifth employee is hired, the marginal product is ________ and is ________ the average product.A. decreasing; less thanB. decreasing; greater thanC. increasing; greater thanD. increasing; less than The table below illustrates the short-run total product schedule for a campus bookstore, showing the relationship between labor (number of workers) and total products (books sold per hour).| Labor (workers) | Total product (books sold per hour) ||-----------------|-------------------------------------|| 0 | 0 || 1 | 10 || 2 | 24 || 3 | 40 || 4 | 58 || 5 | 73 || 6 | 83 || 7 | 87 || 8 | 89 || 9 | 90 || 10 | 90 |The accompanying question states: "When the fifth employee is hired, the marginal product is _______ and is _______ the average product."Options to fill in the blanks with:- decreasing; less than- decreasing; greater than- increasing; greater than- increasing; less than

Marginal productivity of labour measures the change in total productivity with an additional unit of…

Answered: above table shows the short-run total…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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29. The above table shows the short-run total product schedule for the campus book store. When the fifth employee is hired, the marginal product is ________ and is ________ the average product.

A. decreasing; less than

B. decreasing; greater than

C. increasing; greater than

D. increasing; less than

The table below illustrates the short-run total product schedule for a campus bookstore, showing the relationship between labor (number of workers) and total products (books sold per hour).

| Labor (workers) | Total product (books sold per hour) |
|-----------------|-------------------------------------|
| 0 | 0 |
| 1 | 10 |
| 2 | 24 |
| 3 | 40 |
| 4 | 58 |
| 5 | 73 |
| 6 | 83 |
| 7 | 87 |
| 8 | 89 |
| 9 | 90 |
| 10 | 90 |

The accompanying question states:

"When the fifth employee is hired, the marginal product is _______ and is _______ the average product."

Options to fill in the blanks with:
- decreasing; less than
- decreasing; greater than
- increasing; greater than
- increasing; less than

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