QUESTION 4 When Total Product of labors (TPL) is maximized then: O Average product (APL) equals zero O Marginal product (MPL) equals zero O Marginal product (MPL) is maximized O Average product (APL) is maximized
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Q: When Total Product of labors (TPL) is maximized then: O Average product (APL) is maximized O…
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- QUESTION 3 When Total Product of labors (TPL) is maximized then: OA Marginal product (MPL) is maximized O B. Average product (APL) is maximized OC. Marginal product (MPL) equals zero O D. Average product (APL) equals zeroThe following statements are about the relationship between typical total product (TP), averageproduct (AP), and marginal product (MP) curves. Which statement is correct?O If TP is at a maximum, MP must be zero.O If TP is at a maximum, AP must be zeroO If TP is at a maximum, MP must be at a maximumO If TP is at a maximum, AP must be at a maximumO If TP is at a maximum, both AP and MP must be at a maximum.Consider this production function. Study hours 2. 4 10 11 12 14 15 or more 13 Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 1007 90 - 80 70 60 S0 40 30 20 10 Hours of study per day Select one or more: a. The average product of labour is falling as hours of study increase. O b. The marginal product of labour is constant as hours of study increase. O c. The marginal product of labour is rising as hours of study increase. U d. The marginal product of labour is zero beyond 15 hours. Final grade 9-
- When the marginal product of an additional worker is less than the marginal product of the previous worker, there are O A) increasing marginal returns to labor O B) decreasing marginal returns to labor C) decreasing total returns to labor D) increasing total returns to laborTotal product (meals per hour) 24 20 TP 16 12 2 Quantity of labor (workers) The figure shows the total product curve for the Fruit Bowl food truck. If the food truck increases production from 10 to 17 meals per hour, the marginal product is in the range where it and the marginal product is the average product. O A) increases; greater than B) decreases; greater than C) increases; is equal to D) does not change; is equal to O E) increases; less than 4.Diminishing marginal product suggests that the marginal a. cost of an extra worker is decreasing O b. cost of an extra worker is increasing O c. cost of an extra worker is unchanged O d. cost of an extra worker is increasing but then decreasing
- The slope of an isocost line is equal to the Select one: O a. O b. and is negative of the ratio of input prices; constant decreases as we move down the line; the ratio of the marginal products O c. is constant; the ratio of the marginal products O d. increases as we move down the line; the ratio of input pricesPizza Hut Total product Labor (workers) (pizzas produced per hour) 0. 5. 3 12 4 14 15 Using the data in the above table, what is the marginal product of the second worker? O A. 4.5 pizzas per hour O B. 4 pizzas per hour OC 5 pizzas per hour O D. The marginal product is undefined.The table provides information about the relationships between labor and various product measures The amount of labor that maximizes the marginal product of labor is Total product Marginal Average Labor (workers) (units) product product O. 3. 2. 45 3. 14 4. 19 Select one a. 2 units of labor b. 4 units of labor C3 units of labor. s units of labor.
- Number Of Output Workers 1 50 110 300 4 450 590 665 700 8. 725 710 10 705 According to the above table, At what point does diminishing retums set in? O 4th labor 3rd labor O 1st labor O 2nd laborProductivity decreases when O a. Output and hours worked decrease at the same rate O b. Hours worked decreases at a faster rate than output O c. Hours worked decreases at a slower rate than output Od. The cost per unit produced decreasesQUESTION 14 When Total Product of labors (TPL) is maximized then: A. Marginal product (MPL) is maximized B. Average product (APL) is maximized C. Marginal product (MPL) equals zero O D. Average product (APL) equals zero