Table 11.2
$$\begin{array} { | c | c | c | c | c | }
\begin{array} { c }
\text { Workers } \
\text { per Day }
\end{array} & \text { Total Product } & \text { Marginal Product } & \begin{array} { c }
\text { Total } \
\text { Revenue } \
( \$ )
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Revenue } \
\text { Froduct } ( \$ )
\end{array} \
\hline 0 & 0 & - & 0 & - \
\hline 1 & 100 & & 1,000 & 1,000 \
\hline 2 & & 95 & 1,950 & 950 \
\hline 3 & 285 & 90 & & 900 \
\hline 4 & 370 & & 3,700 & 850 \
\hline 5 & & 80 & 4,500 & 800 \
\hline
\end{array}$$
-Refer to Table 11.2,which shows the product price of a perfectly competitive firm and the output produced by the firm. When do increasing marginal returns first become evident?
A)never
B)after the first worker
C)after the second worker
D)after the third worker
E)after the fourth worker

Question

Table 11.2
 $$\begin{array} { | c | c | c | c | c | } 
\begin{array} { c } 
\text { Workers } \
\text { per Day }
\end{array} & \text { Total Product } & \text { Marginal Product } & \begin{array} { c } 
\text { Total } \
\text { Revenue } \
( \$ )
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue } \
\text { Froduct } ( \$ )
\end{array} \
\hline 0 & 0 & - & 0 & - \
\hline 1 & 100 & & 1,000 & 1,000 \
\hline 2 & & 95 & 1,950 & 950 \
\hline 3 & 285 & 90 & & 900 \
\hline 4 & 370 & & 3,700 & 850 \
\hline 5 & & 80 & 4,500 & 800 \
\hline
\end{array}$$
-Refer to Table 11.2,which shows the product price of a perfectly competitive firm and the output produced by the firm. When do increasing marginal returns first become evident?
A)never
B)after the first worker
C)after the second worker
D)after the third worker
E)after the fourth worker

Quizplus · Accepted Answer

Increasing marginal returns are not evident in the table, as the marginal product of labor decreases with each additional worker, indicating diminishing marginal returns.

Table 112 -Refer to Table 11