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Figure 10.4.1 Refer to Figure 10.4.1, which illustrates the total product...

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A graph plots labor versus output. In the graph, the horizontal axis is labeled labor (workers per day) and the vertical axis is labeled output (teapots per day). The horizontal axis ranges from 0 to 6 in increments of 1 unit, and the vertical axis ranges from 0 to 25 in increments of 5 units. Four upward curves are labeled Plant A, Plant B, Plant C, and Plant D.

Figure 10.4.1

Refer to Figure 10.4.1, which illustrates the total product curves for four different plant sizes. What is the fundamental technological fact reflected in the shape of each curve?

The fundamental technological fact reflected in the shape of the curve for each plant size is that

law of economies of scale.

fact that capital and labour cannot be substituted for each other.

price of the inputs.

price of the output.

law of diminishing marginal returns.

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