Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___. Have to share the same equipment and workspace Produce less and less total output Require jobs to be too specialized Produce less and less average product

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Answer 1

Question

Chapter 14, Problem 3MCQ

To determine

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

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Which of the following describes the law of diminishing returns to labor? A. When one more worker got hired their marginal product was negative B. When one more worker got hired total product of the firm went down C. When one more worker got hired their marginal product was lower than the marginal product of the previous worker

When you have diminishing marginal returns to labor A. variable costs fall as more output is produced B. fixed costs rise as more output is produced because you have to buy more equipment to compensate C. variable costs remain constant as more output is produced D. variable costs rise as more output is produced

Multiple choices One reason why in the short run, the marginal product of labor might increase initially as more workers are hired is that? the first workers hired get to use the best equipment specialization allows a worker to focus on one task, thereby increasing her proficiency at that task. the best workers are hired first and later hires are not as skillful. beyond some point, a firm has hired too many workers. In the short run, which of the following costs will not change as output changes? marginal cost. total variable cost. average variable cost. average fixed cost. total fixed cost. If your overall grade point average is 2.0 and you earn a 2.5 GPA this semester, your overall grade point average will increase. This situation demonstrates the general principle that? if average value is greater than marginal value, marginal value will increase. if average value is greater than total value, total value will increase. if marginal value is greater than…

Answer 2

Question

Chapter 14, Problem 3MCQ

To determine

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 14, Problem 3MCQ

To determine

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 14, Problem 3MCQ

To determine

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 14, Problem 3MCQ

To determine

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

Answer 6

Chapter 14, Problem 3MCQ

To determine

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

Answer 7

Chapter 14, Problem 3MCQ

To determine

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

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Answer 11

Ch. 14 - Prob. 1SPPA Ch. 14 - Prob. 2SPPA Ch. 14 - Prob. 3SPPA Ch. 14 - Prob. 4SPPA Ch. 14 - Prob. 5SPPA Ch. 14 - Prob. 6SPPA Ch. 14 - Prob. 7SPPA Ch. 14 - Prob. 8SPPA Ch. 14 - Prob. 9SPPA Ch. 14 - Prob. 1IAPA

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___. Have to share the same equipment and workspace Produce less and less total output Require jobs to be too specialized Produce less and less average product

Solution Summary: The author explains that as firms employ more and more workers, the marginal product/returns goes on falling.

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product

Want to see the full answer?

Chapter 14 Solutions

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___. Have to share the same equipment and workspace Produce less and less total output Require jobs to be too specialized Produce less and less average product

Solution Summary: The author explains that as firms employ more and more workers, the marginal product/returns goes on falling.

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___. Have to share the same equipment and workspaceProduce less and less total outputRequire jobs to be too specializedProduce less and less average product

Want to see the full answer?

Chapter 14 Solutions

Choose the best answer from the following options: Marginal returns start to decrease when more and more workers ___.

Have to share the same equipment and workspace
Produce less and less total output
Require jobs to be too specialized
Produce less and less average product