Use the Following Table to Answer the Question Below: the Amount

question 6

Multiple Choice

Use the following table to answer the question below: The amount of total output produced from various combinations of labor and capital. $$\begin{array}{l}\quad\quad\quad\quad\quad\quad\text { Units of Capital }\\\begin{array} { c c c c c c } & & 1 & 2 & 3 & 4 \\& 1 & 20 & 36 & 48 & 53 \\\text { Units } & 2 & 38 & 68 & 88 & 94 \\\text { of } & 3 & 53 & 94 & 122 & 133 \\\text { Iabar } & 4 & 63 & 112 & 148 & 164 \\& 5 & 68 & 120 & 164 & 184\end{array}\end{array}$$ Diminishing marginal productivity

• A)occurs when the marginal product curve begins to slope downward.
• B)means that adding one more unit of the variable input will reduce total product.
• C)occurs eventually because each additional unit of the variable unit has,on average,fewer units of the fixed input with which to work.
• D)both a and c
• E)both b and c

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Definitions:

Monthly Rental

The amount of money paid periodically (typically monthly) by a tenant to a landlord for the use of a property or space.

Square Footage

Indicates how much floor space is available in a living space.

Sales Tax

A tax paid to a governing body for the sales of certain goods and services.

Closing Fees

Charges and costs associated with the finalization of a real estate transaction or the closing of a loan.