2. Question 2 Table 1 sets out Sue's Surfboards' total product schedule. Table 1: Labour (workers per week) Output (surfboards per week) 1 30 2 70 120 160 190 210 220 34567 6 7 (a) Calculate the average product of labour and the marginal product of labour. Draw the total product curve, the average product curve and the marginal product curve within the same diagram. -1- See Next Page

ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 3.7P
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(b) Over what output range does Sue's Surfboards enjoy the benefits of increased
specialization and division of labour?
(c) Over what output range does Sue's Surfboards experience diminishing marginal
product of labour?
Transcribed Image Text:(b) Over what output range does Sue's Surfboards enjoy the benefits of increased specialization and division of labour? (c) Over what output range does Sue's Surfboards experience diminishing marginal product of labour?
2. Question 2
Table 1 sets out Sue's Surfboards' total product schedule.
Table 1:
Labour (workers per week) Output (surfboards per week)
1
30
2
70
120
160
190
210
220
234
4
5
6
7
Calculate the average product of labour and the marginal product of labour.
Draw the total product curve, the average product curve and the marginal
product curve within the same diagram.
-1-
See Next Page
Transcribed Image Text:2. Question 2 Table 1 sets out Sue's Surfboards' total product schedule. Table 1: Labour (workers per week) Output (surfboards per week) 1 30 2 70 120 160 190 210 220 234 4 5 6 7 Calculate the average product of labour and the marginal product of labour. Draw the total product curve, the average product curve and the marginal product curve within the same diagram. -1- See Next Page
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