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    Macroeconomics Study Set 2
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    Exam 4: Consumer and Firm Behavior: The Work-Leisure Decision and Profit Maximization
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    Look at the Production Schedule Below
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Look at the Production Schedule Below

Question 17

Question 17

Multiple Choice

Look at the production schedule below: Look at the production schedule below:   Which property of a standard production function does it violate? A)  constant returns to scale B)  decreasing marginal product of capital C)  decreasing marginal product of labor D)  production increasing in labor
Which property of a standard production function does it violate?


A) constant returns to scale
B) decreasing marginal product of capital
C) decreasing marginal product of labor
D) production increasing in labor

Correct Answer:

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