Apple Picking Production Quiz

The table above shows the short-run production function for picking apples. Based on the production data, which of the following statements about the marginal product of the fifth worker is true?

• A) It is the maximum that can be attained.

• B) It is greater than the marginal product of the first worker due to increasing returns.

• C) It is greater than the combined marginal products of all the other workers.

• D) It is less than the marginal product of the third worker due to diminishing returns.

• E) It is rising due to increasing marginal returns.

The table above shows the short-run production function for picking apples. Based on the production data, which of the following statements about the marginal product of the fifth worker is true?

• A) It is the maximum that can be attained.

• B) It is greater than the marginal product of the first worker due to increasing returns.

• C) It is greater than the combined marginal products of all the other workers.

• D) It is less than the marginal product of the third worker due to diminishing returns.

• E) It is rising due to increasing marginal returns.

When total utility is at its maximum, marginal utility is

• increasing

• negative

• equal to zero

• at a maximum

• at minimum

After which worker does diminishing marginal product first occur?

• Second worker

• Third worker

• Fourth worker

• Fifth worker

• Sixth worker

After which worker does diminishing marginal product first occur?

• Second worker

• Third worker

• Fourth worker

• Fifth worker

• Sixth worker

Which of the following best describes the relationship between the average total cost curve and the marginal cost curve in the short run?

• A) If the average total cost curve is rising, the marginal cost curve is above the average total cost curve.

• B) If the average total cost curve is rising, the marginal cost curve is below the average total cost curve.

• C) If the average total cost curve is above the marginal cost curve, the marginal cost curve is rising.

• D) If the average total cost curve is below the marginal cost curve, the marginal cost curve is falling.

• E) If the average and marginal cost curves intersect, the marginal cost curve is at a minimum.

The graph above shows the cost curves for a competitive firm that produces 20 units of output. What are the total cost and the total fixed cost of producing 20 units of output?

• Total Cost: $10, Total Fixed Cost: $0

• Total Cost: $120, Total Fixed Cost: $100

• Total Cost: $120, Total Fixed Cost: $20

• Total Cost: $200, Total Fixed Cost: $100

• Total Cost: $200, Total Fixed Cost: $20

The graph above shows the cost curves for a competitive firm that produces 20 units of output. What are the total cost and the total fixed cost of producing 20 units of output?

• Total Cost: $10, Total Fixed Cost: $0

• Total Cost: $120, Total Fixed Cost: $100

• Total Cost: $120, Total Fixed Cost: $20

• Total Cost: $200, Total Fixed Cost: $100

• Total Cost: $200, Total Fixed Cost: $20

The marginal cost of producing the fourth unit of output is

• $4

• $11

• $19

• $32

• impossible to determine from the information given

The marginal cost of producing the fourth unit of output is

• $4

• $11

• $19

• $32

• impossible to determine from the information given