Suppose 9 wo total number of repaired 6. the marginal product of the tenth b. a. each worker repairs, on ave average product must be rising because the C. Use the information below to answer questions 7 through 10. Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is a fixed amount of capital used to produce the hats, yet plenty of labor is available for work. The following table is a hypothetical production schedule for Hal's shop. is greater than average product when nine workers are d. All of the above are true Quantity of hats produced per day Labor 20 50 75 100 100 90 hats per day. The marginal product of the second worker is 30 7. a. 20 C. b. 25 d. 8. hats per day. When 3 workers are hired, average product is 50 a. 10 C. b. 25 d. 75 If the marginal product of the fourth worker is 15 units of output, the quantity of hats produced per day when four workers are employed is equal to 9. a. 80 C. 95 90 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition c worker. a. first b. third fourth second C. d. Chapter 9 Assignments 178 50 012 3456O7 b.

Suppose 9 wo total number of repaired 6. the marginal product of the tenth b. a. each worker repairs, on ave average product must be rising because the C. Use the information below to answer questions 7 through 10. Hal's Holiday Hats produces Santa hats in a small factory on the edge of town. There is a fixed amount of capital used to produce the hats, yet plenty of labor is available for work. The following table is a hypothetical production schedule for Hal's shop. is greater than average product when nine workers are d. All of the above are true Quantity of hats produced per day Labor 20 50 75 100 100 90 hats per day. The marginal product of the second worker is 30 7. a. 20 C. b. 25 d. 8. hats per day. When 3 workers are hired, average product is 50 a. 10 C. b. 25 d. 75 If the marginal product of the fourth worker is 15 units of output, the quantity of hats produced per day when four workers are employed is equal to 9. a. 80 C. 95 90 d. 100 10. Diminishing marginal product (or "diminishing returns") sets in with the addition c worker. a. first b. third fourth second C. d. Chapter 9 Assignments 178 50 012 3456O7 b.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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