oliva, Noemi PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets po total number of repaired T.V. sets increases to 39, then! each worker repairs, on average, 4 T.V. sets per day wh the marginal product of the tenth worker is 3.9 T.V. sets. NAME 6. ired. is greater than average product when nine workers are hired. All of the above are true average product must be rising because the marginal product of the tenth worker te sell the calcula a. b. profita larges C. Use the information below to answer questions 7 through 10. Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is a fixed amount of capital used to produce the hats, yet plenty of labor is available for work. The following table is a hypothetical production schedule for Hal's shop. d. firm The der are Quantity of hats produced per day de Labor 0. 20 de 50 75 100 100 90 7. hats per day. The marginal product of the second worker is 30 a. 20 C. b. 25 d. 50 When 3 workers are hired, average product is hats per day. a. 10 C. 50 b. 25 d. 75 9. If the marginal product of the fourth worker is 15 units of output, the quantity of hats produced per day when four workers are employed is equal to a. 80 b. 90 C. 95 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition of the worker. a. first b. second C. third d. fourth Chapter 9 Assignments 178 -234 567 8.
oliva, Noemi PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets po total number of repaired T.V. sets increases to 39, then! each worker repairs, on average, 4 T.V. sets per day wh the marginal product of the tenth worker is 3.9 T.V. sets. NAME 6. ired. is greater than average product when nine workers are hired. All of the above are true average product must be rising because the marginal product of the tenth worker te sell the calcula a. b. profita larges C. Use the information below to answer questions 7 through 10. Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is a fixed amount of capital used to produce the hats, yet plenty of labor is available for work. The following table is a hypothetical production schedule for Hal's shop. d. firm The der are Quantity of hats produced per day de Labor 0. 20 de 50 75 100 100 90 7. hats per day. The marginal product of the second worker is 30 a. 20 C. b. 25 d. 50 When 3 workers are hired, average product is hats per day. a. 10 C. 50 b. 25 d. 75 9. If the marginal product of the fourth worker is 15 units of output, the quantity of hats produced per day when four workers are employed is equal to a. 80 b. 90 C. 95 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition of the worker. a. first b. second C. third d. fourth Chapter 9 Assignments 178 -234 567 8.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Question 10
Transcribed Image Text:oliva, Noemi
PRINT LAST NAME, FIRST NAME
Suppose 9 workers can repair 36 television sets po
total number of repaired T.V. sets increases to 39, then!
each worker repairs, on average, 4 T.V. sets per day wh
the marginal product of the tenth worker is 3.9 T.V. sets.
NAME
6.
ired.
is greater than average product when nine workers are hired.
All of the above are true
average product must be rising because the marginal product of the tenth worker
te
sell the
calcula
a.
b.
profita
larges
C.
Use the information below to answer questions 7 through 10.
Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is
a fixed amount of capital used to produce the hats, yet plenty of labor is available for
work. The following table is a hypothetical production schedule for Hal's shop.
d.
firm
The
der
are
Quantity of hats produced per day
de
Labor
0.
20
de
50
75
100
100
90
7.
hats per day.
The marginal product of the second worker is
30
a.
20
C.
b.
25
d.
50
When 3 workers are hired, average product is
hats per day.
a.
10
C.
50
b.
25
d.
75
9.
If the marginal product of the fourth worker is 15 units of output, the quantity of
hats produced per day when four workers are employed is equal to
a.
80
b.
90
C.
95
d.
100
10.
Diminishing marginal product (or "diminishing returns") sets in with the addition of the
worker.
a.
first
b.
second
C.
third
d.
fourth
Chapter 9 Assignments
178
-234 567
8.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education