The First, Second, and Third Workers Employed by a Firm

question 42

Multiple Choice

The first, second, and third workers employed by a firm add 24, 18, and 9 units to total product, respectively. Therefore, we can conclude that

• A)marginal product of the third worker is 9.
• B)the third worker has to work with poorer-quality tools and raw materials.
• C)the firm will not want to hire more than three workers.
• D)the first worker puts forth more effort than the second and third workers.

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Definitions:

Couches

Furniture pieces designed for seating multiple people, characterized by a long seating area with back and arm support.

Pies Per Day

A measurement of production output, often used metaphorically to represent the daily productivity or output level of a particular good.

Pizzas

A popular dish of Italian origin consisting of a usually round, flat base of leavened wheat-based dough topped with tomatoes, cheese, and often various other ingredients, baked at a high temperature.

Production

The procedure of integrating assorted material and immaterial elements (such as schemes and knowledge) to manufacture items for consumer use.