short run production function
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For a short run production function which output is determined by the number of workers utilized (capital stock held constant) which of the following is true?
a. In general, when there are a few workers the marginal product of labor will be constant.
b. When the marginal product of labor is negative total product is falling.
c. When diminishing returns set in, adding one more worker decrease output.
d. All of the above.
e. None of the above.
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The solution discusses for a short run production function which output is determined by the number of workers utilized (capital stock held constant).
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The answer is b, when the marginal product is negative, total product is falling. Marginal product is the increase in output ...
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