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Posts: 199
4 weeks 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
Edition: 8th
Authors:
Read 161 times
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wrote...
4 weeks ago
Capital is fixed.
wrote...
4 weeks ago
Thank you, thank you, thank you!
wrote...
4 weeks ago
You're welcome
Answer accepted by topic starter
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4 weeks 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
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Posts: 251
4 weeks ago
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60 units.
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Answer accepted by topic starter
wrote...
4 weeks 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
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4 weeks ago
Thank you for answering so quickly
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4 weeks ago
Was feeling bored, my pleasure Grinning Face with Smiling Eyes
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