According to the above production table, diminishing marginal productivity sets in after the hiring of which unit of labor? A. 3. B. 4. C. 5. D. 6. E. 7.

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter13: Earnings, Productivity, And The Job Market
Section: Chapter Questions
Problem 3CQ
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According to the above production table, diminishing marginal productivity sets in after the hiring of which unit of labor?

A. 3.
B. 4.
C. 5.
D. 6.
E. 7.
Labor
12345678
2
3
8
Total Product
13
31
51
67
79
86
86
74
Average Product
13
15.5
17
16.75
15.8
14.33
12.29
9.25
Transcribed Image Text:Labor 12345678 2 3 8 Total Product 13 31 51 67 79 86 86 74 Average Product 13 15.5 17 16.75 15.8 14.33 12.29 9.25
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