Multiple Choice
-Figure 7-1 shows the amounts of coal that a mining company could produce per week by changing the number of workers while capital and technology remain constant.The marginal product of employing the fourth worker is
A) 120 tons of coal
B) 480 tons of coal
C) 319 tons of coal
D) 180 tons of coal
E) 106.33 tons of coal
Correct Answer:
Verified
Correct Answer:
Verified
Q18: As a firm increases its output in
Q19: The law of diminishing marginal returns says
Q20: The minimum points of the average variable
Q21: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -In Figure 7-4,marginal
Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -The firm depicted
Q24: The marginal product of labor is the<br>A)total
Q25: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-1 shows
Q26: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-7 shows
Q27: Average Fixed Cost is the<br>A)horizontal distance (at
Q28: Long-run average total cost must always be<br>A)rising<br>B)declining<br>C)greater