-The Table Above Shows the Total Product Schedule for Rick's

question 65

Multiple Choice

-The table above shows the total product schedule for Rick's Lawn Service,a yard care company.When the 4th worker is hired,the ________ product of labor equals ________ lawns mowed.

• A) average; 60
• B) average; 3.75
• C) marginal; 3.75
• D) marginal; 0
• E) marginal; 15

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Definitions:

Economic Engines

Key industries or sectors within an economy that drive economic growth, employment, and wealth generation.

Consumer Goods

Products and commodities that are bought and used by individuals and households for personal use.

Agricultural Production

The process of cultivating plants and raising livestock for food, fiber, and other products.

Social Contract

Agreement hammered out between labor and management in leading industries; called a new “social contract.” Unions signed long-term agreements that left decisions regarding capital investment, plant location, and output in management’s hands, and they agreed to try to prevent unauthorized “wildcat” strikes.