(Table) Based on the Table, Negative Marginal Returns Occur Beginning

question 304

Multiple Choice

(Table) Based on the table, negative marginal returns occur beginning with the _____ worker.
$\begin{array}{|c|c|c|c|}\hline \text { Labor } & \begin{array}{c}\text { Total } \\\text { Product }\end{array} & \text { MP } & \text { AP } \\\hline 1 & 5 & 5 & 5 \\\hline 2 & 12 & 7 & 6 \\\hline 3 & 21 & & 7 \\\hline 4 & 31 & 10 & 7.75 \\\hline 5 & 40 & 9 & 8 \\\hline 6 & 48 & 8 & \\\hline 7 & & 6 & 7.71 \\\hline 8 & 57 & 3 & 7.12 \\\hline 9 & 57 & 0 & 6.33 \\\hline 10 & 54 & -3 & 5.4 \\\hline\end{array}$

• A) fifth
• B) seventh
• C) ninth
• D) tenth

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Definitions:

Utility Function

A mathematical representation describing how a consumer ranks different bundles of goods based on the level of satisfaction each bundle provides.

Budget Constraint

Describes the combinations of goods and services that a consumer can purchase given their income and the prices of the goods.

Income

Earnings received by an individual or entity, typically in the form of wages, salaries, or investment returns, over a specified period.

Apples

Edible fruits from the apple tree, used in various cuisines and known for their health benefits.