If a firm experiences diminishing productivity of labor, the marginal product Question 31Select one: a. increases as total product decreases. b. decreases as total product increases.  c. decreases as total product decreases. d. increases as total product increases.

Q: When the average product is increasing, marginal product: a. equals average product b. is…

A: Average product (AP) is the output produced per unit of input (labor, capital, etc.) used. It is…

Q: rease in average

A: Economies of scale are the cost advantages being reaped by companies when production in turn becomes…

Q: marginal proc capital means that as we add additional units of capital A. B. and labor, output will…

A: The law of diminishing marginal product of capital is an important concept in economics that…

Q: When the average output reaches its highest level, the average output is . A. is greater than…

A: Average product refers to the output obtained from the per unit of inputs of variable factors. The…

Q: Question 6 Table 4-1 below shows the relationships between labor and output for XYZ Inc. Output by…

A: "Total Output indicate the total volume or amount of final output produced by a firm using given…

Q: Which of the following is not possible? When the total product is decreasing, marginal product is…

A: Total product is the summation of the all product produce with the help of factors of production.…

Q: The shape of this production function suggests O A. a constant marginal product of capital. B. an…

A: Marginal product of capital is the additional output obtained by increasing capital by one unit. The…

Q: what is the main difference between average physical and marginal physical product?  describe the…

A: Q) what is the main difference between average physical and marginal physical product? APP means the…

Q: When all of a firm's inputs are doubled, input prices do not change, and this results in the firm's…

A: Economies of scale is when there is increasing returns to scale.  Diseconomies of scale is when…

Q: 19. A firm hires a new engineer. The engineer enables the firm to produce more output with the same…

A: Economies of scope: When an economy or a firm achieves efficiency through variety and not from…

Q: Elaborate the concept of diminishing marginal product

A: Economics deals with the allocation of scarce resources among humans with unlimited wants. For…

Q: = L2K2, 3. Imagine we live in a classical world. Suppose that the production function is Y where L…

A: A Production function refers to a mathematical relation or equation that shows the relationship…

Q: When total product is increasing at an increasing rate, marginal product is:  positive and…

A: Production is the process of creating finished goods and services using the available raw materials…

Q: xplain the relationship between total product, marginal product, and average product. How does the…

A: Microeconomics is a branch of economics that deals with the behavior, consumption, and allocation…

Q: . Using the data in the table, graph and explain the following: a. Total Output b. Average Product…

A: The total product would be the total units of output which would be produced with the total units of…

Q: QUESTION 1 Which of the following statements is/ are correct i. At the maximum point of the total…

A: This can be defined as a cost that shows the type of cost that an individual, business, or any other…

Q: 19. Average productivity of labor equals A the change in output dividod by the change in labor b…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: nn leases a farmer's field and grows melons. She hires students to pick and ack the melons. The…

A: The average product of labour is found by dividing the total product of labour (TPL) by the amount…

Q: Question 2 If the slope of the total productivity line is decreasing as output increases, what…

A: Marginal product states that change in output due to an additional unit of input like labour. On the…

Q: Total product begins to fall when: a average product is negative b. marginal product is maximized c.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: If 1 orchard, 7 workers, and 3 tons of fertilizer yield 1,000 bushels of peaches, while 1 orchard, 7…

A: Since you have posted multiple independent questions, according to the guidelines, only the first…

Q: QUESTION 10 Marginal product is: O B. the increase in total output attributable to the employment of…

A: In a market, the term marginal is significantly used by the firms andd policymakers because marginal…

Q: The change in ourtput or total product the business would achieve in the current period byexpanding…

A: Production of a firm is the process through which the inputs are used to make the final output.…

Q: If marginal product is decreasing, then it must be the case that average product is greater than…

A: Marginal product refers to the additional output or production that is achieved by using one more…

Q: Use the diagram below to answer the question. Capital 160 140 120 100 8 60 40 20 B U To D Isoquant…

A: Labor Capital Ratio (L/K) is a measure of amount of labor employed to every unit of capital employed…

Q: FIRM X SPENT $100m to upgrade its equipment last year. this year, the amount represents: a. An…

A: Taking definition of each statement An accounting cost : its cost of operating a business it…

Q: 1. Show and explain the relationship between total product, average product and marginal product.

A: Average Product (AP)= Total Product (TP)/ Labour (L). It denotes the addition of variable factor to…

Q: The maximum output that can be produced for a given amount of input is called a: A. discrete…

A: The maximum output refers to the highest level of output that can be achieved with a given amount of…

Q: Q26 The point where diminishing marginal productivity begins is where... a. Total product begins to…

A: An economical principle administering creation which holds that if more factor input units are…

Q: Which of the FF. statements is correct about the diminishing returns to labor? A. The diminishing…

A: When labor is employed in the production process, it gives returns in terms of production of output…

Q: 26. The period of time when a firm is able te changeali of innuts, or factors of production, is…

A: Broadly, there are two types of factors of production, fixed factors, and variable factors.

Q: QUESTION 8 An increase in output that arises from an additional unit of input is a. increased…

A: We know that, The change in output when one additional unit of input is called marginal product.

Q: Farmer Greene faces diminishing marginal product.If she plants no seeds on her farm, she gets…

A: Law of diminishing marginal productivity states that the marginal production from the additional…

Q: When the marginal product of labor equals the average product of labor, then a. the marginal product…

A: Marginal product is the additional output produced by employing an additional unit of input.

Q: 1. Explain production function and illustrate examples. 2. Explain marginal product of input in a…

A: Since you have asked multiple questions, we will solve first question for you. If you want any other…

Q: which of the following statements about the short-run production is true   A. Total product starts…

A: We have to find true statement of short run production function.

Q: Along the vertical axis of the production function we typically measure 00 a. revenue. b. the…

A: The vertical axis of a production function generally denotes the output or production level. The…

Q: Consider this production function. Study hours 1 4 5. 10 11 12 13 14 15 or more Grade 20 33 42 50 57…

A: [1] Lets discuss options one by one:-a. UK workers have more free time than Greek workers.Ans. UK's…

Q: Table 1 - Labor and output data Units of Labor Units of Output 0 0 1 15 2 38 3 62 4 75…

A: Units of Labor Total Output Marginal Output 0 0 - 1 15 15 2 38 23 3 62 24 4 75 13…

Q: Assume the following for a given production function: • If inputs = 1 then total output = 5 • If…

A: Marginal product is the increase in total product due to additional unit of input.  MPn = TPn -…

Q: Problem 1 Cefel Furniture is a small furniture shop that focuses on making kitchen chairs. The…

A: The amount of total output that is divided by the volume of inputs is frequently referred to as…