Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 9.2, Problem 4QQ
To determine
Marginal product.
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Students have asked these similar questions
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.
When 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.
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.
Chapter 9 Solutions
Microeconomics
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 - Indicate how each of the following would shift the...Ch. 9 - Prob. 5RQCh. 9 - Prob. 6RQCh. 9 - Prob. 1PCh. 9 - Prob. 2PCh. 9 - Prob. 3PCh. 9 - Prob. 4P
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Similar questions
- 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.arrow_forwardthe 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 ratearrow_forward4 . When the average output reaches its highest level, the average output is .A. is greater than marginal product B. less than marginal productC. is equal to the marginal product D. equal to the total productarrow_forward
- When total product is increasing at an increasing rate, marginal product is: positive and increasing.B. positive and decreasing.C. constant.D. negative.arrow_forwardThe change in ourtput or total product the business would achieve in the current period byexpanding the usė of an input by another unit is: O The Marginal physical product (b) Thie Total physicał product (0) The Average pbysical product (d) The Marginal valuè product,arrow_forwardDefine marginal physical product of labor (MPP) and marginal cost of product (MC). How are these two related? Why is MC called the mirror image of MPP? Explain. Answer must correct. Describe it step by step. Don,t copy from anywhere. Use word file for answer. Use graph. word limit minimum 350 .arrow_forward
- Question attahed in imagearrow_forward1. Explain production function and illustrate examples. 2. Explain marginal product of input in a production process. 3. Illustrate example of getting the slope of the production function curve.arrow_forwardIf marginal product is decreasing, then it must be the case that average product is greater than marginal product. None of the choices are correct. A both "average product is decreasing" and "average product is less than marginal product": average product is decreasing. average product is less than marginal product.arrow_forward
- Inputs of labor Total Product Average Product Marginal Product 1 15 2 34 3 51 65 74 80 83 8. 82 Requirements: 1. Calculate the marginal and average products. 2. The plot in a graph the marginal products. 3. Explain why marginal product first rise, then decline and ultimately becomes negative.arrow_forwardThe table shows total production of a firm. If units of labour (L) increase, find below. 2 marks Units of Labour Total Product (TP) Marginal Product (MP) Average Product (AP) 0 0 1 80 2 200 3 330 4 400 5 450 6 480 7 490 8 480 Compute the marginal product of labour (MP) from first to eighth units of labour. Now compute the average product (AP) of the various quantities of labour and enter them into table. There are increasing return to labour from the first through the ---------------- units of labor and decreasing return from the --------------through eighth units. d. When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------arrow_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_forward
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