Multiple Choice
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.
Correct Answer:

Verified
Correct Answer:
Verified
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