Table 7.4
$$\begin{array} { c c c }
\begin{array} { c }
\text { Units of } \
\text { Labor }
\end{array} & \begin{array} { c }
\text { Total } \
\text { Product }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Product }
\end{array} \
\hline 0 & 0 & - \
1 & 6 & 6 \
2 & 14 & 8 \
3 & 24 & 10 \
4 & 36 & 12 \
5 & 42 & 6 \
6 & 46 & 4
\end{array}$$
-Refer to Table 7.4,which shows labor,total product,and marginal product for a firm.Marginal returns increase with the hiring of up to _____ workers.
A)six
B)two
C)five
D)four
E)three

Question

Table 7.4
 $$\begin{array} { c c c } 
\begin{array} { c } 
\text { Units of } \
\text { Labor }
\end{array} & \begin{array} { c } 
\text { Total } \
\text { Product }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Product }
\end{array} \
\hline 0 & 0 & - \
1 & 6 & 6 \
2 & 14 & 8 \
3 & 24 & 10 \
4 & 36 & 12 \
5 & 42 & 6 \
6 & 46 & 4
\end{array}$$
-Refer to Table 7.4,which shows labor,total product,and marginal product for a firm.Marginal returns increase with the hiring of up to _____ workers.
A)six
B)two
C)five
D)four
E)three

Quizplus · Accepted Answer

From the table, we can see that marginal product increases with the addition of each worker up to the fourth worker. After the fourth worker, the marginal product starts to decline, indicating decreasing marginal returns. Therefore, the best choice would be to hire four workers to maximize marginal productivity.

Table 74 -Refer to Table 7