This topic contains a solution. Click here to go to the answer

Author Question: Consider a basket-producing firm with fixed capital. The firm can produce 36 baskets per day with 3 ... (Read 63 times)

Bobvance

  • Full Member
  • ***
  • Posts: 154
Consider a basket-producing firm with fixed capital. The firm can produce 36 baskets per day with 3 workers and then increases production to 44 baskets per day with 4 workers. Which of the following statements is true?
◦ The firm has not yet reached the point of diminishing marginal productivity.
◦ The firm has passed the point of diminishing marginal productivity.
◦ With 4 workers, the marginal product is above the average product.
◦ The marginal product of the fourth worker is 11.
◦ With 4 workers, the firm's average product of labour is 8.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Bobvance on Oct 12, 2022

kaynelson17

  • Full Member
  • ***
  • Posts: 141
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.
Answer Preview
Only 35% of students answer this correctly




Bobvance

  • Member
  • Posts: 154
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review


sarah_brady415

  • Member
  • Posts: 328
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

For a complete list of videos, visit our video library