In the Short- Run, a Firm Increases Its Labour Input

question 86

Multiple Choice

In the short- run, a firm increases its labour input from 10 to 11 workers and output increases from 500 to 560 units. Which of the following statements is correct?

• A)The marginal product of the 11th worker is 50.
• B)The average product of 11 workers is 60.
• C)The marginal product of the 11th worker is 60.
• D)The average product of 11 workers is 50.

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Definitions:

Northern Reformers

Individuals or groups from the Northern United States who advocated for various social, political, and economic reforms during the 19th century, often concerning the abolition of slavery and reconstruction efforts.

War of Attrition

A military strategy in which one side attempts to win a conflict by wearing down the enemy to the point of collapse through continuous losses in personnel and material.

Army of the Potomac

The primary Union fighting force in the Eastern Theater of the American Civil War, notable for its role in major battles and campaigns under various commanders.

U.S. Military Academy

Also known as West Point, a prestigious institution that educates and trains officers for the United States Army.