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LilyGal LilyGal
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Posts: 501
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4 years ago
Units of CapitalNumber of WorkersOutput/Day
500
5140
5290
53150
54200
55235

Table 2.3


Refer to Table 2.3. What can be observed about the given resources?

▸ Labor is fixed.

▸ Capital is fixed.

▸ Capital is variable.

▸ Capital and labor are both fixed.
Textbook 
Microeconomics: Principles, Applications, and Tools

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
Read 195 times
7 Replies
Replies
wrote...
#1
4 years ago
Capital is fixed.
LilyGal Author
wrote...
#2
4 years ago
Thank you, thank you, thank you!
Answer accepted by topic starter
wrote...
#3
4 years ago
Units of CapitalNumber of WorkersOutput/Day
500
5140
5290
53150
54200
55235

Table 2.3


Refer to Table 2.3. Increasing the number of workers from 2 to 3 will increase output per day by:

▸ 60 units.

▸ 90 units.

▸ 150 units.

▸ 240 units.
Answer verified by a subject expert
MikaelDevostMikaelDevost
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#4
Posts: 393
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4 years ago
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Answer accepted by topic starter
wrote...
#5
4 years ago
Units of CapitalNumber of WorkersOutput/Day
500
5140
5290
53150
54200
55235

Table 2.3


Refer to Table 2.3. The principle of diminishing returns first occurs when how many workers are hired?

▸ 2

▸ 3

▸ 4

▸ 5
Answer verified by a subject expert
jenniferagrethejenniferagrethe
wrote...
#6
Posts: 369
Rep: 49 0
4 years ago
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wrote...
#7
4 years ago
Thank you for answering so quickly
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