A Firm Has a Given Amount of Capital

question 90

Multiple Choice

A firm has a given amount of capital.When it hires 10 workers,output is 30.When it hires 11 workers,output is 40.If the Law of Diminishing Returns applies,which of the following is the most likely amount of output when the firm hires 12 workers?

• A)70
• B)60
• C)50
• D)45
• E)-10

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Definitions:

Reform Communities

Groups or societies established with the intention of enacting social, religious, or political reforms, often living together under shared principles.

Civil War

A conflict within a country between opposing factions or regions, historically significant examples include the American Civil War fought from 1861 to 1865.

Cooperative Basis

A foundational principle of working together where individuals or groups collaborate, usually in economic ventures, for mutual benefit.

Shaker Communities

Religious communities known for their simple living, architecture, and furniture, as well as for practicing celibacy and communal living.