Use the table below to answer the following questions.
Table 10.2.2
-Refer to Table 10.2.2 which gives Rob's Repair Shop's total product schedule.The marginal product when the number of workers increases from 2 to 3 is
A) 1 repair.
B) 2 repairs.
C) 3 repairs.
D) 4 repairs.
E) 3.75 repairs.
Correct Answer:
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Q40: In the long run,a firm can vary
A)all
Q41: The steeper the slope of the total
Q42: Use the table below to answer the
Q43: When the 7th worker is hired,output increases
Q44: Diminishing marginal returns refers to a situation
Q46: Use the table below to answer the
Q47: Suppose a firm increases the quantity of
Q48: If the total product of three workers
Q49: Use the table below to answer the
Q50: The law of diminishing marginal returns states:
A)As
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