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Solution Library
Increase In Total Output By Additional Worker And Total Product Curve Stages
Question
1. A typical total product curve goes through four stages. What is the correct order for these stages?
A) increases at a decreasing rate, increases at an increasing rate, reaches a maximum, decreases
B) increases at an increasing rate, increases at a decreasing rate, decreases, reaches a maximum
C) increases at an increasing rate, reaches a maximum, increases at a decreasing rate, decreases
D) increases at an increasing rate, increases at a decreasing rate, reaches a maximum, decreases
2. When a new worker hired adds more to total output than the previous worker hired, you have:
A) decreasing marginal returns.
B) constant marginal costs.
C) increasing marginal costs.
D) decreasing marginal returns.
Summary
These multiple choice questions belong to Economics. The 1st question is about the stages in total product curve and the 2nd question is about increase in total output by hiring an additional worker.
Total Word Count NA
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Comments
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