(Figure: Determining Marginal Returns) Based on Both the Table and the Figure

question 189

Multiple Choice

(Figure: Determining Marginal Returns) Based on both the table and the figure, adding a fifth worker leads to _____ marginal returns.
$\begin{array}{|l|l|l|l|}\hline \text { Labor } & \begin{array}{l}\text { Total } \\\text { Product }\end{array} & \boldsymbol{M P} & \boldsymbol{A P} \\\hline 1 & 5 & 5 & 5 \\\hline 2 & 12 & 7 & 6 \\\hline 3 & 21 & 9 & 7 \\\hline 4 & 31 & 10 & 7.75 \\\hline 5 & 40 & 9 & 8 \\\hline 6 & 48 & 8 & 8 \\\hline 7 & 54 & 6 & 7.71 \\\hline 8 & 57 & 3 & 7.12 \\\hline 9 & 57 & 0 & 6.33 \\\hline 10 & 54 & -3 & 5.4 \\\hline\end{array}$

• A) increasing
• B) diminishing
• C) constant
• D) negative

Understand the key concepts and differences between efficient and responsive supply chains.

Recognize the importance of customer service within the supply chain context.

Identify strategies to minimize logistics costs while maintaining or improving customer service.

Comprehend the function and benefits of cross-docking in supply chain management.

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The reduction or elimination of government power in a particular industry, usually to create more competition and increase efficiency.

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The process of concentrating control and decision-making authority in a central location or group within an organization or system.

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An annual index that measures a country's economic freedom based on factors such as trade freedom, business freedom, investment freedom, and property rights.