# test 4

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test 4
Question 1
0 out of 4 points

A short-run production function assumes that

the level of output is fixed.

at least one input is a fixed input.

Question 2
4 out of 4 points

Refer to the following table: Amount of total output produced from various combinations of labor and capital.

Units of Capital

1
2
3 Units of Labor
1
2
3
4
5
6
80
180
270
340
390
410
100
220
330
420
490
530
120
260
390
500
590
650

If capital is fixed at two units, what is the marginal product of the fourth unit of labor?

none of the above

none of the above

Question 3
4 out of 4 points

Refer to the following table: Amount of total output produced from various combinations of labor and capital.

Units of Capital

1
2
3 Units of Labor
1
2
3
4
5
6
80
180
270
340
390
410
100
220
330
420
490
530
120
260
390
500
590
650

If labor is fixed at three units, how much does the third unit of capital add to total output?

60

60

Question 4
4 out of 4 points

If average product is increasing, then marginal product

must be greater than average product.

must be greater than average product.

Question 5
4 out of 4 points

Suppose that you run a house-painting company and currently have 2 workers painting a total of 4 houses per month. If you hire a third worker, 6 houses can be painted per month. If you hire a fourth worker, 9 houses can be painted, and a fifth and sixth worker will increase the number of houses painted to 13 and 15, respectively. Diminishing returns

set in when the sixth worker is hired.

set in when the sixth worker is hired.

Question 6
0 out of 4 points

The marginal product of labor

both a and b

both b and c

Question 7
4 out of 4 points

Refer to the

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