If diminishing marginal returns have already set in for Golden Lark Woodworks, and the marginal product of the 6th carpenter is 8 chairs, then the marginal product of the 7th carpenter is
A) more than 8 chairs. B) zero. C) negative. D) less than 8 chairs.
Question 2
Refer to Figure 13-4. What is the area that represents the total variable cost of production?
A) 0P0aQa B) P0abP1 C) P1bdP3 D) 0P1bQa