Asked by
Joshua Van Bramer
on Oct 27, 2024
Verified
When Caroline's dress factory hires two workers,the total product is 50 dresses.When she hires three workers,total product is 60,and when she hires four workers,total product is 65.The slope of the marginal product curve between two and four workers hired is:
A) positive.
B) zero.
C) infinite.
D) negative.
Marginal Product Curve
A graphical representation showing how the addition of a single unit of resource alters the total output of a good or service.
Total Product
The total output of goods and services produced by a firm or industry over a specific period.
- Attain insight into the principles of marginal and total product relevance in production.
- Become familiar with the idea of diminishing returns and its consequences on productivity.
- Understand the influence of increased workforce on both total products and incremental production within diverse operational settings.
Verified Answer
AM
Learning Objectives
- Attain insight into the principles of marginal and total product relevance in production.
- Become familiar with the idea of diminishing returns and its consequences on productivity.
- Understand the influence of increased workforce on both total products and incremental production within diverse operational settings.
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