Table 75
​ -Refer to Table 7

question 95

Multiple Choice

Table 7.5
​
$$\begin{array} { | c | c | c | } \hline \text { Labor } & \text { Total Froduct } & \text { Marginal Product } \\\hline 1 & 2 & 2 \\\hline 2 & 6 & \mathrm {~A} \\\hline 3 & \mathrm {~B} & 6 \\\hline 4 & 16 & 4 \\\hline 5 & 18 & \mathrm { C } \\\hline 6 & \mathrm { D } & 0 \\\hline\end{array}$$
-Refer to Table 7.5,which shows labor,total product,and marginal product produced by a firm.At which points do negative marginal returns set in?

• A)before the first unit of labor
• B)between the first and second units of labor
• C)between the second and third units of labor
• D)between the third and fourth units of labor
• E)after the sixth unit of labor

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Definitions:

Contractual Liability

The liability that individuals or entities have to one another as a result of entering into an agreement.

Common Law

A system of law based on precedent and customs rather than statutory laws.

Gap-Filling Rules

Provisions in law that allow courts or parties to fill in missing terms in a contract.

Sale Of Goods

The transfer of ownership to tangible personal property in exchange for money, other goods, or the performance of service.