Question Completion Status: QUESTION 7 A firm\'s total fixed cost: At falls as t

Question

Question Completion Status: QUESTION 7 A firm's total fixed cost: At falls as the firm produces more output in the short run. stays constant in the short run. OC. falls as the firm produces more output in the long run. O D. increasos as the firm produces more output. QUESTION 8 Total Products (units per period) 10 Labor per Day 107 110 105 (Table: Total Product and Marginal Product) Look at the table Total Product and Marginal Product. The marginal product of the fourth worker is OA, 50 units. OB. 90 C.22.5 O D. 20

Explanation / Answer

A.Fixed costs are constant in the short run.

Answer-B.

Marginal product=Change in TP/Change in output

Marginal Product for the 4th worker=20

Labour Total product Marginal Product 0 0 _ 1 10 10 2 30 20 3 70 40 4 90 20 5 100 10 6 107 7 7 110 3 8 105 -5

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