The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
TABLE 7-3
-Refer to Table 7-3.Diminishing marginal product of labour is first observed when the firm changes the amount of labour hired from
A)0 to 1 units.
B)1 to 2 units.
C)2 to 3 units.
D)3 to 4 units.
E)4 to 5 units.

Question

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
  TABLE 7-3
-Refer to Table 7-3.Diminishing marginal product of labour is first observed when the firm changes the amount of labour hired from
A)0 to 1 units. 
B)1 to 2 units. 
C)2 to 3 units. 
D)3 to 4 units. 
E)4 to 5 units.

Quizplus · Accepted Answer

The Answer of The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
  TABLE 7-3
-Refer to Table 7-3.Diminishing marginal product of labour is first observed when the firm changes the amount of labour hired from
A)0 to 1 units. 
B)1 to 2 units. 
C)2 to 3 units. 
D)3 to 4 units. 
E)4 to 5 units.

The Following Data Show the Total Output for a Firm