59) Which of the following describes how output changes in the short run? Because of specializationand the division of labor, as more workers are hired
A) the marginal product of labor will first decrease, then increase at a decreasing rate.B) output will first increase at an increasing rate, then output will increase at a decreasing rate.C) the marginal product of labor will first be negative and then will be positive.D) output will first decrease at an increasing rate, then increase at a decreasing rate.Answer: B
59)
Diff: 2
Page Ref: 361

362/361

362
Topic: Marginal Product of Labor
Learning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factor
supply and labor in factor markets
AACSB: Reflective Thinking
60) If 11 workers can produce 53 units of output while 12 workers can produce 56 units of output,what is the marginal product of the 12th worker?
Diff: 2
Page Ref: 359/359
Topic: Marginal Product of Labor
Learning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factor
supply and labor in factor markets
AACSB: Analytic Skills
Table 11

2
Quantity of
Workers
Quantity of
Boxes
Marginal
Product of
Labor
Average
Product of
Labor
0
0


1
50
2
200
3
240
4
264
5
284
61)Refer to Table 112.The table above refers to the relationship between the quantity of workersemployed and the number of cardboard boxes produced per day by Mannyʹs House of Boxes. Thecapital used to produce the boxes is fixed. Diminishing returns to labor are first observed in thisexample after Manny hires the ________ worker.
Diff: 1
Page Ref: 361

362/361

362
Topic: Average Product of Labor
Learning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factor
supply and labor in factor markets
AACSB: Analytic Skills
17
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 Fall '13
 Economics, Marginal product, Prime number, AACSB