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Author Question: The following data show the total output for a firm when different amounts of labour are combined ... (Read 19 times)

jlol3

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on: Oct 12, 2022

Question 1

Suppose that when a firm hires one additional unit of labour, total product increases from 100 to 110 units of output per month. Marginal product must therefore be
◦ zero.
◦ decreasing.
◦ increasing.
◦ constant.
◦ positive.

Question 2

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital. Assume the wage per unit of labour is $10 and the cost of the capital is $50.

Labour per periodTotal output per period
0  0
1 10
2 30
3 90
4132
5150

TABLE 7-3

Refer to Table 7-3. The marginal product of labour is at its maximum when the firm changes the amount of labour hired from
◦ 0 to 1 unit.
◦ 4 to 5 units.
◦ 1 to 2 units.
◦ 3 to 4 units.
◦ 2 to 3 units.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by jlol3 on Oct 12, 2022

gwisel

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Reply #1 on: Oct 12, 2022
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jlol3

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

amit

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Reply 3 on: Yesterday
Wow, this really help

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