The Following Table Shows the Total Number of Pizzas Produced

question 90

Multiple Choice

The following table shows the total number of pizzas produced by 7 workers.
Table 16-1 $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { workers }\end{array} & \begin{array} { c } \text { Total number of pizzas } \\\text { produced per day }\end{array} \\\hline 0 & 0 \\\hline 1 & 6 \\\hline 2 & 13 \\\hline 3 & 18 \\\hline 4 & 21 \\\hline 5 & 23 \\\hline 6 & 22 \\\hline 7 & 20 \\\hline\end{array}$$
-In Table 16-1,marginal returns from labor diminishes from the _____ worker.

• A)fifth
• B)second
• C)third
• D)sixth

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Definitions:

Concentration Ratio

A measure used in economics to assess the degree of market concentration by summing the market shares of the top firms in the industry.

Market Share

The proportion of total sales or business that a company or product secures within a particular market.

Industry

A sector of the economy characterized by the production or processing of similar goods or services.

High Concentration Ratio

Indicates that a large percentage of a market is controlled by a few firms, which could suggest less competition.