As Product Co adds the first four workers to its production process in the short run, its output rises from 0 to 12 to 25 to 35 to 43 . Addition of the fifth worker will most likely lead to an output rate
a. greater than 51
b. equal to 51
c. less than 51
d. greater than 51 if the firm experiences diseconomies of scale
e. none of the above
C
Economics
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A) of less than zero. B) between zero and one. C) equal to one. D) greater than one.
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Economic profit is the difference between total revenue and
A) the normal profit. B) interest costs of production. C) opportunity costs of production. D) the costs of resources bought in markets.
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