-The Table Above Shows the Total Product Schedule for the X

question 30

Multiple Choice

-The table above shows the total product schedule for The X Firm. The average product of labour is maximised at ________ workers because ________.

• A) 3; output starts to decrease with the 4th worker
• B) 5; the APL exceeds the MPL for the 5th worker
• C) 5; output is maximised with the 5th worker
• D) 4; the marginal product of labour is increasing with the 4th worker
• E) 4; productivity is maximised when the 4th worker is employed

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Definitions:

Metacognition

The ability to think about and understand one’s own cognitive processes and their effects.

Executive Functions

Cognitive processes including planning, problem-solving, and attention control, which are essential for goal-directed behavior.

Big Five

A theory describing human personality as composed of five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality Traits

Enduring characteristics that describe an individual's behavior, attitude, and emotions, which are consistent across various situations.