From 1 labor hour up to 7 labor hours, what sort of marginal productivity does this production function have? O Increasing marginal productivity O Constant marginal productivity O Decreasing marginal productivity

Which of the following statements is true? O At every output level the marginal product curve lies above the average product curve. The marginal product curve always has a positive slope. The marginal product = average product curves when average product is at its maximum. O The marginal and average product curves intersect at the maximum level of output.

2. Table 1 below shows the number of baskets produced by a Bentle Weavers in the short run using three machines and labour. Use this table to answer the question below Capital 3 3 3 3 3 Labour 0 1 2 3 4 Total Product 10 Marginal Product 15 What is the maximum value of total product for this firm? a) 48 b) 25 c) 10 d) 40 Average Product 16 10

5. A company that produces auto parts has a production function of Q = 300 L-75 K-5. %3D If L= 250 and K= 25, what is the output of auto parts? If L increases to 350, what is the output of auto parts? What does the change in output show regarding labor as a factor of production?

Nathan owns a bakery that bakes only cakes. All of his bakers work 8 hours per day. In 2006, he employed 5 bakers and they produced 200 cakes each day. In 2007, he employed 6 bakers and they produced 249 cakes each day. In Nathan's bakery, productivity Select one: O a. Increased by 24.,50 percent between 2006 and 2007. O b. Decreased by 2.33 percent between 2006 and 2007. O c Increased by 3.75 percent between 2006 and 2007. d. Increased by 2.33 percent between 2006 and 2007.

QUESTION 9 In one day Amazing company produced 50 shirts in 250 labor hours, What is Amazing company's productivity? O a. 1/5 shirts per hour O b. 5 hours per shirts O C. 50 shirts d. 5 shirts.

Suppose the inputs of labour and capital each increase by 8% and output also increases by 8%. The production function exhibits_ returns to scale technology. a. Constant O b. Increasing O c. Decreasing O d. Zero

QUESTION 5 Timothy own a Subway franchise. He used flour, oil, seasoning and oven to bake the bread for sandwich. Oven in this case is an example of O a. labor. O b. human capital. Oc. physical capital. O d. natural resources.

Explanation it correctly