Author Question: Refer to Table 11-1. Diminishing marginal returns sets in when the ________ worker is hired. A) ... (Read 65 times)

Bernana · **on:** Jun 29, 2018

Refer to Table 11-1. Diminishing marginal returns sets in when the ________ worker is hired.

A) 2nd
B) 3rd
C) 4th
D) None of the above; the production function displays increasing marginal returns.

Question 2

If the market price is 40, the average revenue of selling five units is

A) 8. B) 20. C) 40. D) 200.