Assume the total product of twoworkers is 100 and the total product of threeworkers is 12O. The average product of threeworkers is and the marginal product of thethird worker isSelectone: rа. 20; 100 b. 120; 100 с.40; 20d. 13.33; 6.67

here we calculate the given by following method given below;

Answered: vorkers is 100 and the total product of…

vorkers is 100 and the total product of three vorkers is 120. The average product of three vorkers is and the marginal product of the hird worker is Select

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 28CTQ: Why do you mink the U.S. experience with inflation over the last 50 years has been so much milder...

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Concept explainers

Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.

Question

Assume the total product of two
workers is 100 and the total product of three
workers is 12O. The average product of three
workers is and the marginal product of the
third worker is
Select
one: r
а. 20; 100 b. 120; 100 с.
40; 20
d. 13.33; 6.67

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