(Figure: The Total Product) Use Figure: The Total Product.As labor is hired between L₁ and L₂,the total product is _ and the marginal product is _.

A) increasing;positive
B) decreasing;zero
C) increasing;negative
D) increasing;zero

Question

(Figure: The Total Product) Use Figure: The Total Product.As labor is hired between L₁ and L₂,the total product is _____ and the marginal product is _____.

A) increasing;positive
B) decreasing;zero
C) increasing;negative
D) increasing;zero

The mail blast · Accepted Answer

Final Answer : A, Explanation :  As labor is hired between L 1  and L 2 , the total product is increasing as the amount of labor input is increasing. The marginal product is positive because each additional unit of labor is adding more output than the previous unit, indicating increasing returns to scale.

(Figure: The Total Product) Use Figure: The Total Product.As labor is hired between L₁ and L₂,the total product is _ and the marginal product is _.

A) increasing;positive
B) decreasing;zero
C) increasing;negative
D) increasing;zero

Definitions

Learning Objectives

Learning Objectives

Related questions

(Figure: The Total Product) Use Figure: The Total Product.As labor is hired between L1 and L2,the total product is _____ and the marginal product is _____.A) increasing;positiveB) decreasing;zeroC) increasing;negativeD) increasing;zero

Definitions

Learning Objectives

Learning Objectives

Related questions

(Figure: The Total Product) Use Figure: The Total Product.As labor is hired between L₁ and L₂,the total product is _ and the marginal product is _.

A) increasing;positive
B) decreasing;zero
C) increasing;negative
D) increasing;zero