Author Question: The following data show the total output for a firm when different amounts of labour are combined ... (Read 20 times)

jlol3 · **on:** Oct 12, 2022

Question 1

Suppose that when a firm hires one additional unit of labour, total product increases from 100 to 110 units of output per month. Marginal product must therefore be
◦ zero.
◦ decreasing.
◦ increasing.
◦ constant.
◦ positive.

Question 2

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital. Assume the wage per unit of labour is $10 and the cost of the capital is $50.

Labour per period	Total output per period
0	0
1	10
2	30
3	90
4	132
5	150

TABLE 7-3

Refer to Table 7-3. The marginal product of labour is at its maximum when the firm changes the amount of labour hired from
◦ 0 to 1 unit.
◦ 4 to 5 units.
◦ 1 to 2 units.
◦ 3 to 4 units.
◦ 2 to 3 units.

gwisel · **Reply #1 on:** Oct 12, 2022

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