Explain the Law diminishing return. Calculate the Marginal Product and Average product in the given table. No.of workersTotal Product Marginal Product Average Product 00- 180 2170 3270 4368 5430 6480 7504 8504 9495 10470

Total product refers to the output amount that can be produced by a given amount of variable factor,…

Answered: Explain the Law diminishing return.…

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Explain the Law diminishing return. Calculate the Marginal Product and Average product in the given table.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter13: Factor Markets: With Emphasis On The Labor Market

Section13.1: Factor Market

Problem 2ST

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Question

Explain the Law diminishing return. Calculate the Marginal Product and Average product in the given table.

No.of workers	Total Product	Marginal Product	Average Product
0	0	-
1	80
2	170
3	270
4	368
5	430
6	480
7	504
8	504
9	495
10	470

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