Question

Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to reduce their work effort in preparation for a new round of collective bargaining talks. O workers are discouraged about the lack of help from other workers. O crowded office space reduces the productivity of new workers. O only new workers are trained in using the most productive capital. Question 6 1 pts Diminishing marginal product suggests that the marginal O product of an extra worker is less than the previous worker's marginal product. O cost of an extra worker is unchanged. O product of an extra worker is greater than the previous worker's marginal product. O cost of an extra worker is less than the previous worker's marginal cost.

Answer 1

Answer-5 The correct option is crowded office space reduces the productivity of new workers.

This would result into diminishing marginal product of labor.

Answer-6 The correct option is product of an extra worker is less than the previous worker's marginal product.

Answer-7 The correct option is average total cost must be rising.

When MC exceeds ATC, ATC must be rising.

Answer-8 The correct option is less than $8