A firm can produce 450 gallons of milk per day with 4 workers and 500 gallons per day with 5 workers. The marginal product of the fifth worker expressed in gallons per worker per day, is:
A) 35.
B) 50.
C) 70.
D) 350.
Correct Answer:
Verified
Q21: Which of the following best describes a
Q33: During the short-run period of the production
Q52: The long run is a period of
Q54: In the long run, total fixed cost:
A)
Q57: The increase in total output that results
Q58: If the units of variable input in
Q59: A farm is able to produce 9,000
Q60: During the short run, a firm has
Q139: If two workers can produce 22 units
Q174: The long run is a period of
A)
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