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wrote...
Posts: 201
4 weeks ago
Number of workersUnits of output
00
125
255
395
4125
5150

Table 8.2


Refer to Table 8.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. Diminishing returns set in with the addition of the:

▸ third worker.

▸ fourth worker.

▸ fifth worker.

▸ sixth worker.
Textbook 
Microeconomics: Principles, Applications, and Tools
Edition: 8th
Authors:
Read 256 times
9 Replies
Replies
wrote...
4 weeks ago
fourth worker.
wrote...
4 weeks ago
Thanks for your help!
Answer accepted by topic starter
wrote...
4 weeks ago
Number of workersUnits of output
00
125
255
395
4125
5150

Table 8.2


Refer to Table 8.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product is maximized when the firm hires:

▸ 2 workers.

▸ 3 workers.

▸ 4 workers.

▸ 5 workers.
Answer verified by a subject expert
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Posts: 228
4 weeks ago
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3 workers.
1
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Answer accepted by topic starter
wrote...
4 weeks ago
Number of workersUnits of output
00
125
255
395
4125
5150

Table 8.2


Refer to Table 8.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product of the fifth worker is:

▸ 0 units.

▸ 10 units.

▸ 25 units.

▸ 30 units.
Answer verified by a subject expert
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Posts: 214
Rep: 5 0
4 weeks ago
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25 units.
1
Related Topics
wrote...
4 weeks ago
Thanks
Answer accepted by topic starter
wrote...
4 weeks ago
Number of workersUnits of output
00
125
255
395
4125
5150

Table 8.2


Refer to Table 8.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product of the fourth worker is:

▸ 0 units.

▸ 10 units.

▸ 25 units.

▸ 30 units.
Answer verified by a subject expert
wrote...
Posts: 255
4 weeks ago
Sign in or Sign up in seconds to unlock everything.
30 units.
1
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