Multiple Choice
The division of labor and specialization explain
A) why, when the marginal product of labor increases, so does the average product of labor.
B) why the average product of labor falls when firms use more capital or change the layout of their businesses.
C) why the marginal product of labor rises as a firm hires its first units of labor.
D) why firms may find it profitable to use more workers when the marginal product of labor is negative.
Correct Answer:
Verified
Correct Answer:
Verified
Q284: Consider a manufacturing operation that uses specialized
Q285: Minimum efficient scale is defined as the
Q286: Firms in different countries that face different
Q287: Table 11-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Table 11-4
Q288: Accounting costs exclude implicit costs.
Q290: Table 11-2<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Table 11-2
Q291: Figure 11-6<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 11-6
Q292: If the 15th unit of output has
Q293: If 11 workers can produce 53 units
Q294: The long-run average cost curve shows<br>A)the lowest