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Author Question: FIGURE 7-1Refer to Figure 7-1. Suppose each unit of labour represents one worker for one month. What ... (Read 54 times)

mimie

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Question 1




FIGURE 7-1

Refer to Figure 7-1. If the firm hires the 15th unit of labour,


◦ output will increase by 2 units of output.
◦ average product will rise.
◦ the extra output will be zero.
◦ marginal product will be unchanged.
◦ the firm will reach its capacity.

Question 2




FIGURE 7-1

Refer to Figure 7-1. Suppose each unit of labour represents one worker for one month. What is the maximum number of workers the firm could hire so that the final worker hired still raises the average product of the other workers?


◦ 15
◦ 7
◦ 11
◦ 9
◦ 8


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Marked as best answer by mimie on Oct 12, 2022

queenBea90

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mimie

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)


elyse44

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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