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Author Question: Using the above table, when Jefferson's Cleaners hires three workers A) the average product of ... (Read 101 times)

anshika

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  • Posts: 510
on: Jun 29, 2018
Using the above table, when Jefferson's Cleaners hires three workers
 
  A) the average product of labor is greater than the marginal product.
  B) the marginal product of labor is greater than the average product.
  C) it has already experienced diminishing marginal returns.
  D) Both answers A and C are correct.

Question 2

A firm's shutdown point is the quantity and price at which the firm's total revenue just equals its
 
  A) total cost.
  B) total variable cost.
  C) total fixed cost.
  D) marginal cost.


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AaaA

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


anshika

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Reply 2 on: Jun 29, 2018
Excellent

marict

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

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