A bracelet making company has three employees,and together they produce 10 bracelets an hour.When a fourth worker joins them,the output for the company is now 11 bracelets an hour.Which of the following is true?
A) Diminishing marginal product has set in.
B) Marginal product is rising.
C) Total product is increasing.
D) None of these is true.
Correct Answer:
Verified
Q103: Average variable costs:
A) always trend upward as
Q107: A cigar factory employs 20 workers and
Q108: The marginal cost curve:
A)is U-shaped.
B)rises when marginal
Q110: Marginal cost:
A)is calculated by change in total
Q111: Suppose a sandwich shop currently employs four
Q111: Average fixed costs:
A)always trend downward as output
Q112: In general,the cost of an input:
A)stays the
Q113: The total cost curve:
A) is the sum
Q114: Average product tells us:
A)the level of inputs
Q116: The fixed cost curve:
A)is steep when output
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