Consider a Basket- Producing Firm with Fixed Capital

question 99

Multiple Choice

Consider a basket- producing firm with fixed capital.If the firm can produce 24 baskets per day with 3 workers and then increases production to 36 baskets per day with 4 workers,then which of the following statements is definitely true?

• A)Average product for this firm is rising.
• B)The firm has passed the point of diminishing marginal productivity.
• C)The marginal product of the fourth worker is 9.
• D)With 4 workers,the average product is greater than the marginal product.
• E)Marginal product for this firm is rising.

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Definitions:

Standing

In legal terms, it refers to the ability of a party to demonstrate to the court sufficient connection to and harm from the law or action challenged to support that party's participation in the case.

Sherman Act

A foundational United States antitrust law passed in 1890 that prohibits monopolistic practices and promotes competition.

Criminal Intent

The mental state indicating that an individual was conscious of the act or omission, and intended the consequences of his/her actions.

Antitrust Focus

Refers to the concentration on laws and regulations that prevent monopolies, promote competition, and ensure fair trade practices among businesses.