Figure 13-1
The figure depicts a production function for a firm that produces cookies.

-Refer to Figure 13-1.With regard to cookie production,what does the figure imply
A)diminishing marginal product of workers
B)diminishing marginal cost of cookie production
C)increasing marginal cost of cookie production
D)increasing marginal product of workers

Question

Figure 13-1
The figure depicts a production function for a firm that produces cookies.
 
-Refer to Figure 13-1.With regard to cookie production,what does the figure imply
A)diminishing marginal product of workers 
B)diminishing marginal cost of cookie production 
C)increasing marginal cost of cookie production 
D)increasing marginal product of workers

Quizplus · Accepted Answer

The figure implies that there is a diminishing marginal product of workers in cookie production, as the marginal product of workers initially increases and then starts to decrease as more workers are hired.

Figure 13-1 The Figure Depicts a Production Function for a Firm That