SECTION#_\ -03 NAME_ ONa, Noemi Dliva Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and total number of repaired T.V. sets increases to 39, then: each worker repairs, on average, 4 T.V. sets per day when nine workers are hired the marginal product of the tenth worker is 3.9 T.V. sets. average product must be rising because the marginal product of the tenth worker is greater than average product when nine workers are hired. All of the above are true PRINT LAST NAME, FIRST NAME 6. a. b. C. d. 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. Labor Quantity of hats produced per day 0. 20 50 75 100 100 90 The marginal product of the second worker is 20 hats per day. a. C. 30 b. 25 d. 50 When 3 workers are hired, average product is 10 hats per day. a. C. 50 b. 25 012 345 67

SECTION#_\ -03 NAME_ ONa, Noemi Dliva Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and total number of repaired T.V. sets increases to 39, then: each worker repairs, on average, 4 T.V. sets per day when nine workers are hired the marginal product of the tenth worker is 3.9 T.V. sets. average product must be rising because the marginal product of the tenth worker is greater than average product when nine workers are hired. All of the above are true PRINT LAST NAME, FIRST NAME 6. a. b. C. d. 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. Labor Quantity of hats produced per day 0. 20 50 75 100 100 90 The marginal product of the second worker is 20 hats per day. a. C. 30 b. 25 d. 50 When 3 workers are hired, average product is 10 hats per day. a. C. 50 b. 25 012 345 67

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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