Table 8-3 -Refer to Table 8-3

question 179

Multiple Choice

Table 8-3
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Quantity of } \\\text { Workers }\end{array} & \begin{array} { c } \text { Quantity of } \\\text { Boxes }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Product of } \\\text { Labor }\end{array} & \begin{array} { c } \text { Average } \\\text { Product of } \\\text { Labor }\end{array} \\\hline 0 & 0 & \cdots & \cdots \\\hline 1 & 50 & & \\\hline 2 & 200 & & \\\hline 3 & 240 & & \\\hline 4 & 264 & & \\\hline 5 & 284 & & \\\hline\end{array}$$
-Refer to Table 8-3.The table above refers to the relationship between the quantity of workers employed and the number of cardboard boxes produced per day by Manny's House of Boxes.The capital used to produce the boxes is fixed.The average product of labor will equal 60 boxes when Manny hires

• A)the second worker.
• B)the third worker.
• C)the fourth worker.
• D)the fifth worker.

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Definitions:

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Normal Distribution

A probability distribution that is symmetrically centered around its mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Acres

A unit of land area used primarily in the US, equal to 4,840 square yards or approximately 4,047 square meters.

Bushels

A unit of volume that is commonly used in agriculture to measure quantities of grain, fruit, or other produce.