Solved

Figure 7-1 -USX, a Steel Company, Reduced the Number of Man-Hours Required

Question 101

Multiple Choice

Figure 7-1 Figure 7-1   -USX, a steel company, reduced the number of man-hours required to produce a ton of steel from 10.8 in 1982 to 3.8 in 1990, thereby eliminating 55,000 jobs.Technically, this rise in productivity means the A) marginal product of labor increased. B) average product of labor increased. C) average product of capital fell. D) marginal product of capital fell.
-USX, a steel company, reduced the number of man-hours required to produce a ton of steel from 10.8 in 1982 to 3.8 in 1990, thereby eliminating 55,000 jobs.Technically, this rise in productivity means the


A) marginal product of labor increased.
B) average product of labor increased.
C) average product of capital fell.
D) marginal product of capital fell.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions