Consider a Basket-Producing Firm with Fixed Capital

question 69

Multiple Choice

Consider a basket-producing firm with fixed capital.If the firm can produce 24 baskets per day with 3 workers and then increases production to 36 baskets per day with 4 workers,then which of the following statements is definitely true?

• A)Marginal product for this firm is rising.
• B)The marginal product of the fourth worker is 9.
• C)Average product for this firm is rising.
• D)The firm has passed the point of diminishing marginal productivity.
• E)With 4 workers,the average product is greater than the marginal product.

Understand the trait approach to personality and its criticisms.

Comprehend the role of behavioral genetics in studying personality.

Grasp the significance of non-shared vs. shared environmental influences on personality.

Understand how twin and adoption studies are used to separate the influence of genetics and environment on personality.

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Definitions:

Marketers

Professionals or organizations responsible for promoting, selling, and distributing products or services to customers.

Absolute Threshold

The minimum stimulus intensity that an organism can detect half the time.

Perception

The process by which individuals organize and interpret sensory information from their environment to understand and interact with the world around them.

Disruptive

Referring to technologies, products, or services that radically change an industry or business strategy, often displacing established systems or practices.