Figure: Change in the Total Product
(Figure: Change in the Total Product) Look at the figure Change in the Total Product.The figure shows a production function that moves from TP₁ to TP₂.Which of the following choices is a likely cause of this shift?
A) Workers in the firm are less productive on average.
B) The firm employed more of a variable input in the short run.
C) The firm has suffered a decrease in available technology.
D) The firm employed more of a fixed input in the long run.
Correct Answer:
Verified
Q44: Q46: Suppose that the first four workers generate Q48: A factor of production whose quantity cannot Q50: As defined in the text, the long Q51: A factor of production whose quantity can Q52: A planning period during which all of![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents