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: 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: 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: 2018 2019 $200,000 30,000 35,000 5,000 2,000 $220,000 40,000 45,000 6,000 3,000 Sales Labour Raw…

A: a) This formula is comprised of the proportion of absolute yield to a piece of solitary…

Q: Cost schedule Labor Output (units per day) Total variable costs Total costs (workers) (dollars)…

A: Given:  Cost schedule is given, where labor, output, total variable cost and total costs are…

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: The  ________ marginal product of labor occurs because the amount of fixed inputs per labor declines…

A: In the short run, the capital is fixed and only labor is the varaiable input, and there are returns…

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: State how is the law of diminishing returns reflected in the shape of total product curve? What is…

A: Law of diminishing returns: It refers to the theory under which when the company will produce less…

Q: Define the following Terms - Isoquant - Marginal rate of technical substitution - Production…

A: Since it makes an effort to employ scientific methods and applies them to the study of specific…

Q: 2.The production function shows the relationship between Select one: a. quantity of outputs and unit…

A: A production function describes relationship between quantity of inputs used in production and…

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: 1. Based on table below Total Output (q) Amount of Labor (L) Amount of Average Product Marginal…

A: The production function is a line or boundary that indicates the maximum amount of output that may…

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: 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: 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: (a) What is meant by a firm's expansion path? (b) Name and explain the curve that can be produced…

A: Expansion path could be a graph which shows how a firm's cost minimizing input mix changes because…

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: 4. Draw the isoquant for the following production function and indicated level of output. Q = min…

A: Economics as a subject was developed to allocate scarce resources among humans with unlimited wants…

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: The production function for Good X: Marginal Product of Capital AP,OK Average Product of Capital…

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

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: 14 When Total Product of labors (TPL) is maximized then: A. Marginal product (MPL) is maximized B.…

A: Total product in economics refers to the level of output that is produced with the help of given…

Q: Figure 11-13 Capital (units) 24 20 16 Select one: 10 Refer to Figure 11-13. The lines shown in the…

A: ISO-COST: ISO-COST shows different combinations of capital and labor such that each combination…

Q: Which statement is nottrue regarding the total variable cost curve? Select one A. It shows the…

A: Hey, Thank you for the question. According to our policy, we can only answer 1 question per session.…

Q: The average product of labor depends on how many units of Select one: a. labor are used. b. labor…

A: The average product of labor depends on how many units of : (b) labor and capital are used.

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

A: Total Product is the total quantity of goods produced by a firm during a given period of time…

Q: The marginal product of the labor curve shows the change in the total product resulting from a: a.…

A: The change in output that results from using one more unit of a particular input, assuming that the…