Use the following to answer questions :
Figure: Change in the Total Product
-(Figure: Change in the Total Product) Use Figure: Change in the Total Product.Which choice is a likely cause of the shift in production function from TP1 to TP2?
A) Workers in the firm are less productive on average.
B) The firm employed more of a variable input in the short run.
C) Available technology has decreased.
D) The firm employed more of a fixed input in the long run.
Correct Answer:
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Q41: A planning period during which all of
Q43: Use the following to answer questions
Q44: The long run is:
A) long enough to
Q46: A factor of production whose quantity CANNOT
Q47: A farm can produce 1 000 kilograms
Q50: Use the following to answer questions
Q51: A factor of production whose quantity can
Q52: Use the following to answer questions
Q53: In the long run:
A) the firm has
Q53: Use the following to answer question 44:
Figure:
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