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 65 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
Thanks for the timely response, appreciate it


softEldritch

  • Member
  • Posts: 334
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

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.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

For a complete list of videos, visit our video library