The Following Question Are Based on the Following Information

question 25

Multiple Choice

The following question are based on the following information:
A firm uses inputs of labor, fertilizer, and land to produce strawberries (which are sold to wholesalers and processors) . The quantity of land used is fixed at eight acres per season and the production function implies the relationships in the following table:

-It can be said that this firm experiences diminishing returns beyond the employment of the ________ unit of labor.

• A) first
• B) second
• C) third
• D) fourth
• E) fifth

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Definitions:

Discontinuous Innovation

An innovation that makes significant changes and breakthroughs, drastically altering the market landscape or creating new industries.

DVD Player

A device designed to play discs in the Digital Video Disc (DVD) format, often including features for audio CD playback.

Automatic Dishwashers

Machines designed to clean dishes, utensils, and sometimes other kitchen items automatically.

Radical Invention

An innovation that represents a significant departure from existing practices or products, often creating new markets or dramatically changing existing ones.