Joey Cuts Lawns During the Summer

question 91

Multiple Choice

Joey cuts lawns during the summer. Let q equal the number of acres mowed per day, and let L equal the number of hours worked per day. Joey never works more than eight hours per day, and during that time his short-run production function is q = 0.2 ∗ L. Which of the following statements is FALSE?

• A)Joey's marginal product equals his average product.
• B)Joey's marginal product diminishes by 0.2 for each additional hour worked.
• C)Joey's average product is constant.
• D)Joey's marginal product is constant.

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Definitions:

Fishery Product

A fishery product refers to any product or commodity derived from fish, including food items, fish oil, and other byproducts obtained through fishing or aquaculture.

Market Value

The current price at which an asset or service can be bought or sold in a open market.

Property Rights

Legal rights to use, control, and derive benefit from a resource, property, or asset.

Overexploited Fisheries

Fisheries where fish stocks have declined below a level that can sustainably support fishing activity due to excessive fishing.