ECONOMICS W/CONNECT+20 >C<
20th Edition
ISBN: 9781259714993
Author: McConnell
Publisher: MCG CUSTOM
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Chapter 9.2, Problem 2QQ
To determine
Formula of marginal product.
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QUESTION 8
An increase in output that arises from an additional unit of input is
a. increased product.
b. incremental product.
c. economic product.
d. marginal product.
Average product is equal to
A) marginal product + total product.
B) total product ÷ marginal product.
C) total product ÷ quantity of labor.
D) marginal product x quantity of labor.
E) total product x quantity of labor.
the first stage of the law of variable proportions
a. Total product falls
b. Total product rises at an increasing rate
.C. Total product is constant
d. Total product rises at a diminishing rate
Chapter 9 Solutions
ECONOMICS W/CONNECT+20 >C<
Ch. 9.2 - Prob. 1QQCh. 9.2 - Prob. 2QQCh. 9.2 - Prob. 3QQCh. 9.2 - Prob. 4QQCh. 9.5 - Prob. 1QQCh. 9.5 - Prob. 2QQCh. 9.5 - Prob. 3QQCh. 9.5 - Prob. 4QQCh. 9.8 - Prob. 1QQCh. 9.8 - Prob. 2QQ
Ch. 9.8 - Prob. 3QQCh. 9.8 - Prob. 4QQCh. 9 - Prob. 1DQCh. 9 - Prob. 2DQCh. 9 - Prob. 3DQCh. 9 - Prob. 4DQCh. 9 - Prob. 5DQCh. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 1RQCh. 9 - Which of the following are short-run and which are...Ch. 9 - Prob. 3RQCh. 9 - Prob. 4RQCh. 9 - Prob. 5RQCh. 9 - Prob. 6RQCh. 9 - Prob. 1PCh. 9 - Prob. 2PCh. 9 - Prob. 3PCh. 9 - Prob. 4P
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- If a firm experiences diminishing productivity of labor, the marginal product Question 31Select one: a. increases as total product decreases. b. decreases as total product increases. c. decreases as total product decreases. d. increases as total product increases.arrow_forward4. Graphically show the interrelationship between Total Product and Marginal Product.arrow_forwardWhen total product is increasing at an increasing rate, marginal product is: positive and increasing.B. positive and decreasing.C. constant.D. negative.arrow_forward
- 2.The production function shows the relationship between Select one: a. quantity of outputs and unit costs. b. the quantity of inputs and the quantity of outputs. c. labor and capital d. costs of inputs and revenue generatedarrow_forwardThe total product curve shows the relationship between total product and A) the marginal product. B) the average product. C) the quantity of capital. D) the quantity of labor.arrow_forward19. Average productivity of labor equals a the change in output divided by the change in labor. b. output divided by the MPP of labor. e. output divided by marginal cost. d. output divided by the quantity of labor. e. the quantity of labor divided by output.arrow_forward
- "Production function" is the name for OA. a working part. B. a mathematical relationship between inputs and output. OC. technological change. D. none of the above.arrow_forwardWhen the marginal product of labor equals the average product of labor, then a. the marginal product is still increasing. b. the marginal product is maximized. c. the average product is still increasing. d. the average product is maximized.arrow_forwardThe value of marginal product of an input is the value of the: Select one: a. total outout produced by total inputs. b. average output produced by inputs. c. outout produced by the last unit of an input. d. outout produced by the first unit of an input.arrow_forward
- Fill in the tableTotal, Average, and Marginal Product of a Soap ManufacturerNumber of Workers Total Output perdayAverage Product Marginal Product1 50 bars2 1253 2204 3205 4106 4907 5608 6109 64010 630A. Using the data in the table, graph and explain the following:a. Total Outputb. Average Productc. Marginal Productarrow_forward31. The maximum output that can be produced for a given amount of input is called a: A. discrete production function. B. production function. C. continuous production function. D. discontinuous production function. Give typing answer with explanation and conclusionarrow_forwardTheory of Production1. If 1 orchard, 7 workers, and 3 tons of fertilizer yield 1,000 bushels of peaches, while 1 orchard, 7 workers, and 4 tons of fertilizer yield 1,300 bushels, a. the average product of labor equals 1,150 bushels. b. the marginal product of labor cannot be calculated. c. the average product of fertilizer equals 1,150 bushels. d. the marginal product of fertilizer cannot be calculated.When answering the next five questions (2-6), refer to the following graph.2. The marginal product of labor is rising with increased use of labor until a. 10 workers are employed. b. 20 workers are employed. c. 30 workers are employed. d. 40 workers are employed.3. The average product of labor is falling with increased use of labor once a. 10 workers are employed.. b. 20 workers are employed. c. 30 workers are employed d. 40 workers are employed.4. As long as fewer than 30 workers are employed, a. the average product of labor exceeds the marginal product of labor. b. the marginal product…arrow_forward
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