If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

Related Mcqs:

Marginal revenue is ?

A. the additional profit the firms earns when it sells an additional unit of output B. the difference between total revenue and total cost C. The ratio of total revenue to quantity. D. the added revenue that a firm takes in when it increases output by one additional unit....

Maximum profit can be shown on a diagram using ?

A. the MR and MC curves B. the AC and AR curves C. the AC and MC curves D. the MR and AR curves...

The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar because in both market structures ?

A. the efficient output level will be produced in the long run B. firms will only earn a normal profit C. firms realize all economies of scale D. firms will be producing at minimum average cost...

A graph showing all the combinations capital and labor available for a given total cost is the ?

A. expenditure set B. isocost line. C. budget constraint D. isoquant...

In contestable markets, large oligopolistic firms, end up behaving like ?

A. perfectly competitive firms B. a cartel C. a monopoly D. monopolistically competitive firms....