The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital.When answering the questions,you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
TABLE 7-4
-Refer to Table 7-4.Diminishing marginal productivity of labour is first observed when the firm changes the amount of labour hired from
A)0 to 1 unit.
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 specified amounts of labour are combined with a fixed amount of capital.When answering the questions,you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
  TABLE 7-4
-Refer to Table 7-4.Diminishing marginal productivity of labour is first observed when the firm changes the amount of labour hired from
A)0 to 1 unit. 
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 specified amounts of labour are combined with a fixed amount of capital.When answering the questions,you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
  TABLE 7-4
-Refer to Table 7-4.Diminishing marginal productivity of labour is first observed when the firm changes the amount of labour hired from
A)0 to 1 unit. 
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