Fill in the Blanks in the Table Below and Answer

question 3

Multiple Choice

Fill in the blanks in the table below and answer the next questions:


-In the above table, marginal product is negative when _____ units of labor are employed.

• A) 5 units of labor are employed.
• B) 6 units of labor are employed.
• C) 7 units of labor are employed.
• D) both b and C

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Definitions:

Consistent

In statistics, refers to an estimator that, as the sample size grows to infinity, converges in probability to the true parameter being estimated.

Salaries

Refers to the regular payments made to employees for their work or services, typically expressed in terms of annual amounts or hourly rates.

Provinces

Administrative divisions within a country, with specific governmental responsibilities distinct from the central government; often used in reference to Canada's political structure.

Occupation

a person's job or profession.