​Suppose 2 Froyo Machines and 12 Workers Produce Eight Quarts

question 58

Multiple Choice

​Suppose 2 froyo machines and 12 workers produce eight quarts of froyo. If the marginal product of the thirteenth worker is two quarts, then which of the following is true?

• A)Thirteen workers produce ten quarts of froyo.
• B)Thirteen workers produce two quarts of froyo.
• C)The thirteenth worker alone produces ten quarts of froyo.
• D)Thirteen workers produce six quarts of froyo.
• E)The diminishing marginal returns begin with the thirteenth worker.

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Definitions:

F-ratios

A statistical measure calculated by dividing the variance between groups by the variance within groups in the context of an ANOVA test.

F-ratio

A statistic used in ANOVA to compare the variance among group means to the variance within groups; it assesses whether the means are significantly different.

Variability

A statistical measure that indicates the extent to which data points in a dataset differ from the average value.

F-ratio

The ratio of variance between groups to the variance within groups in an ANOVA test, used to determine if there are any significant differences between group means.