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Author Question: Consider a basket-producing firm with fixed capital. The firm can produce 24 baskets per day with 3 ... (Read 125 times)

knemetz3

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on: Oct 12, 2022
Consider a basket-producing firm with fixed capital. The firm can produce 24 baskets per day with 3 workers and then increases production to 36 baskets per day with 4 workers. Which of the following statements is definitely true?
◦ The marginal productivity of the fourth worker is 9.
◦ With 4 workers, the marginal product is greater than the average product.
◦ The firm has passed the point of diminishing marginal productivity.
◦ The firm has passed the point of diminishing average productivity.
◦ With 4 workers, the average product is greater than the marginal product.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by knemetz3 on Oct 12, 2022

Mynameisrandom

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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knemetz3

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Reply 2 on: Oct 12, 2022
Excellent

steff9894

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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