A jewelry company has three employees who together produce 10 bracelets an hour. When a fourth worker joins them, the output for the company increases to 11 bracelets an hour. Which of the following is true?
A) Diminishing marginal product started with the fourth worker.
B) Average product has increased.
C) Total product is increasing.
D) None of these are correct.
Correct Answer:
Verified
Q102: The total cost curve:
A)is the sum of
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Q104: The fixed cost curve:
A)is steep when output
Q105: A cigar factory employs 20 workers and
Q106: Diminishing marginal product:
A)causes the variable cost curve
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Q109: In general, the cost of an input
Q110: Total costs:
A)are fixed costs plus variable costs.
B)include
Q111: Average fixed costs:
A)always trend downward as output
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