Figure 18-1 on the Graph, L Represents the Quantity of Labor and Labor

question 177

Multiple Choice

Figure 18-1
On the graph, L represents the quantity of labor and Q represents the quantity of output per week.
-Refer to Figure 18-1. Based on the shape of the curve, the
(i) total product is increasing.
(ii) total product is decreasing.
(iii) marginal product is increasing.
(iv) marginal product is decreasing.

• A)(i) only
• B)(i) and (iii) only
• C)(i) and (iv) only
• D)(ii) and (iv) only

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Definitions:

Histogram

A graphical representation of data using bars to show the frequency of numerical data intervals, emphasizing the distribution of data.

Time-series Data

A sequence of data points collected or recorded at successive time intervals.

Successive Points

Points or values that follow one another in a sequence or order.

Line Chart

A type of chart that displays information as a series of data points connected by straight line segments, often used to visualize trends over time.