Graph 18-1 This Graph Represents the Value of Marginal

question 174

Multiple Choice

Graph 18-1 This graph represents the value of marginal product for a firm that sells its product in a competitive market.Use the graph to answer the following question(s) .
-Refer to Graph 18-1.The shape of the curve suggests the presence of:

• A)increasing returns to scale
• B)increased productivity with increased labour
• C)decreased productivity with decreased labour
• D)diminishing marginal product

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Definitions:

Forward Scheduling

Scheduling in which materials and resources are allocated for production when a job order comes in.

Materials

Substance or substances from which a thing is or can be made, often used in the context of manufacturing and construction.

Detailed Breakdown

An exhaustive analysis or explanation of a complex topic or item thoroughly separating its components.

Routing

Information showing the steps required to produce a product.