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ECON-1010-D1/D2-Introduction to Microeconomics

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Use the table below to answer the following questions.

Table 10.3.2

Refer to Table 10.3.2, which gives Tania's Teapots' total cost schedule. The average total cost of producing 14 teapots is
0%
0%
0%
0%
0%
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Suppose a 1-unit increase in labour, from 2 to 3 workers, increases output from 10 to 15 teacups. The marginal product from the increase in the quantity of labour is
❌
❌
✅
❌
❌
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Use the figure below to answer the following question.

Figure 10.3.1

Refer to Figure 10.3.1. Which one of the following statements is false?
0%
0%
0%
0%
0%
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Use the table below to answer the following questions.

Table 10.2.2

Refer to Table 10.2.2 which gives Rob's Repair Shop's total product schedule. The average product when Rob's hires three workers is
❌
❌
❌
❌
✅
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What relationship does a production function measure?
100%
0%
0%
0%
0%
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Use the figure below to answer the following questions.

Figure 10.2.1

Refer to Figure 10.2.1 which illustrates Tania's Teapots' total product curve. Average product of labour reaches its maximum for the ________ worker.
0%
0%
0%
0%
0%
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Use the table below to answer the following questions.

Table 10.2.3

Labour

(workers per week)		Output

(rubbers boats per week)		Marginal Product

(rubber boats per worker)		Average Product

(rubber boats per worker)
0

1

2

3

4

5

6

7

8

9

10		0

1

2

4

7

11

14

16

17

18

18		1

1

2

A

4

B

2

1

1

0

1

1

C

C

2.2

E

2.28

2.13

2

1.8

Refer to Table 10.2.3. The value of A is
❌
0%
0%
50%
0%
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If the marginal product of the fifth worker is 34, then the total product of five workers
0%
0%
0%
0%
0%
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For a firm, what does the production function represent?
❌
❌
❌
❌
✅
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When the marginal product of labour is greater than the average product of labour,
✅
❌
❌
❌
❌
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