Q29 **Table: Production of Cabinets**This table illustrates the production of cabinets with varying numbers of workers and their corresponding marginal products.| Quantity of Labor (workers) | Quantity of Cabinets Q | Marginal Product of Labor (cabinets per worker) ||-----------------------------|------------------------|-------------------------------------------------|| 0 | 0 | - || 1 | 5 | 5 || 2 | 11 | 6 || 3 | 16 | 5 || 4 | 20 | 4 || 5 | 23 | 3 || 6 | 25 | 2 || 7 | 25 | 0 || 8 | 25 | -1 |**Explanation:**- The table shows how many cabinets can be made with different numbers of workers.- The "Marginal Product of Labor" indicates the additional number of cabinets produced per additional worker.**Question:**Look at the table "Production of Cabinets." It shows how many cabinets your firm can make with different numbers of workers. After which worker does the firm begin to experience diminishing returns to labor?- A. second- B. third- C. fourth- D. first**Reference:** Ref 11-8

Answer to the question is as follows:

Table: Production of Cabinets Marginal Product Quantity of Labor Quantity of Cabinets Q of Labor (workers) (cabinets per worker) 11 6. 16 20 23 25 26 25 Reference: Ref 11-6 (Table: Production of Cabinets) Look at the table The Production of Cabinets. The table shows how many cabinets your firm can make with different numbers of workers. After which worker does the firm begin to experience diminishing returns to labor? O A. second O B. third O C. fourth O D. first

Table: Production of Cabinets Marginal Product Quantity of Labor Quantity of Cabinets Q of Labor (workers) (cabinets per worker) 11 6. 16 20 23 25 26 25 Reference: Ref 11-6 (Table: Production of Cabinets) Look at the table The Production of Cabinets. The table shows how many cabinets your firm can make with different numbers of workers. After which worker does the firm begin to experience diminishing returns to labor? O A. second O B. third O C. fourth O D. first

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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