Q1. Which of the following conditions is most likely to exist for a typical production process when average product is at its maximum? A) Marginal product is increasing. B) Average variable cost is at a minimum. C) Marginal cost is at a minimum.
Q2. Assume that output increased from 1,550 to 1,850 units per day as a result of increasing labor from 200 to 210 workers. The marginal product of labor is closest to: A) 30 units per day per worker. B) 1.55 units per day per worker. C) 1.25 units per day per worker.
Q3. Which of the following most accurately describes the typical relationship between marginal product (MP) and average product (AP)? As the quantity of labor increases: A) initially, AP > MP, then AP = MP, then AP < MP. B) initially, AP < MP, then AP = MP, then AP > MP. C) initially, AP = MP, then AP > MP. | 
发表于 2008-12-31 10:51
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