Technology, Production, And Costs Practice Problems Microeconomics Worksheet Page 4
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1017. Table 11-1
Number of
Apples per Day
Workers
(bushels)
1
50
2
120
3
180
4
230
5
270
6
300
Table 11-1 summarizes production at the Crunchy Apple Orchard for the month of April 2005.
17. Refer to Table 11-1. What is the marginal product of the 4th worker?
A) 230 bushels
B) 57.4 bushels
C) 50 bushels
D) 12.4 bushels
18. Refer to Table 11-1. What is the average product of labor when the orchard employs 5
workers?
A) 270 bushels
B) 54 bushels
C) 40 bushels
D) 8 bushels
19. Marginal cost is equal to the
A) change in total cost divided by the change in output.
B) change in average total costs divided by the change in output.
C) change in total product divided by the change in output.
D) change in average product divided by the change in output.
20. In the short run, if marginal product is at its maximum, then
A) average cost is at its minimum.
B) average variable cost is at its minimum.
C) marginal cost is at its minimum.
D) total cost is at its maximum.
21. Which of the following explains why the marginal cost curve has a U shape?
A) Initially, the marginal product of labor falls, then rises.
B) Initially, the average product of labor rises, then falls.
C) Initially, the marginal product of labor rises, then falls.
D) Initially, the average cost of production rises, then falls.
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