15 **Question:**Red Stone Creamery currently hires 5 workers. When it added a 6th worker, its output actually fell. Which of the following statements is true?- O The sixth worker is not as skilled as the fifth worker.- O The marginal product of the sixth worker must be negative.- O The total product becomes negative.- O The average product of the sixth worker is negative. **Explanation:**This question addresses the concept of marginal productivity in economics. When hiring additional labor results in a decrease in total output, it indicates that the marginal product of the new worker is negative. This typically occurs when an additional worker reduces overall efficiency due to factors like overcrowding or limited resources. Understanding these dynamics helps firms optimize their workforce and resources.

Marginal product(MP) is the change in output due to an additional increase in the amount of input…

Red Stone Creamery currently hires 5 workers. When it added a 6th worker, its output actually fell. Which of the following statements is true? O The sixth worker is not as skilled as the fifth worker. O The marginal product of the sixth worker must be negative. O The total product becomes negative O The average product of the sixth worker is negative.

Red Stone Creamery currently hires 5 workers. When it added a 6th worker, its output actually fell. Which of the following statements is true? O The sixth worker is not as skilled as the fifth worker. O The marginal product of the sixth worker must be negative. O The total product becomes negative O The average product of the sixth worker is negative.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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