Table 73 -Refer to Table 7

question 172

Multiple Choice

Table 7.3
$$\begin{array} { c c } \begin{array} { c } \text { Number } \\\text { of Workers }\end{array} & \begin{array} { c } \text { Total } \\\text { Output }\end{array} \\\hline 0 & 0 \\1 & 10 \\2 & 40 \\3 & 100 \\4 & 140 \\5 & 160 \\6 & 170 \\7 & 150\end{array}$$
-Refer to Table 7.3,which the number of workers and total output produced in a firm.The marginal product of the third worker is _____

• A)20.
• B)100/3.
• C)60.
• D)50.
• E)140.

---

Definitions:

Input Prices

The cost of resources used in the production of goods and services.

Total Costs

All costs involved in manufacturing goods or providing services, incorporating both stable and changeable expenses.

Economies of Scale

Economies of scale refer to the benefits companies achieve through large-scale production, which typically results in a reduction of the cost per unit as production volumes increase.

Economies of Scale

Refers to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale.