Table 8.3
-Refer to Table 8.3.If the firm hires seven workers,then

Question

Quizplus · Accepted Answer

At seven workers, the marginal product is equal to three. This is the point where the marginal product is maximized and the total product is increasing at its fastest rate. Therefore, D is the best choice. A and C are incorrect as negative values for marginal and total product are not possible. B is incorrect as a marginal product less than one would mean diminishing marginal productivity, which is not the case here.

Table 8.3 -Refer to Table 8.3.If the Firm Hires Seven Workers,then