Multiple Choice
An avocado orchard employs five full-time workers. Currently, the average product of labour is 120 pounds of avocados per day. The orchard hires a 6th full-time worker and his marginal product is 150 pounds of avocados. The average product of the six workers will now be
A) more than 120 pounds.
B) less than 120 pounds.
C) equal to 120 pounds.
D) less than the marginal product of labour.
Correct Answer:
Verified
Correct Answer:
Verified
Q25: <br>-Refer to Table 7-1. What is the
Q51: In the long run,<br>A)the firm's fixed costs
Q75: If four workers can produce 18 chairs
Q77: The rules of accounting generally require that
Q104: If marginal product is greater than average
Q169: Sally quit her job as an auto
Q204: If fixed costs do not change, then
Q244: Jennifer Borts moves her office from the
Q277: Which of the following equations is incorrect?<br>A)ATC
Q288: Accounting costs exclude implicit costs.