2 of 20MacmiWhat is the average product of the second worker? Roundyour answer to the nearest whole number.Second worker's average product:unitsWhat are diminishing marginal returns, and with whichworker do they set in for this firm?O Diminishing marginal returns occur in the short runwhen variable inputs are added to a fixed input, andmarginal product declines. In this case, diminishingreturns set in with the fourth worker.O Diminishing marginal returns occur in the short runwhen variable inputs are added to a fixed input, andaverage product declines. In this case, diminishingreturns set in with the fourth worker.O Diminishing marginal returns occur in the short runwhen fixed inputs are added to a variable input, andmarginal product declines. In this case, diminishingreturns set in with the fourth worker.O Diminishing marginal returns occur in the short runwhen variable inputs are added to a fixed input, andmarginal product increases. In this case, diminishingreturns set in with the second worker.MacBook Pro Macmillan LearningConsider the table, which reports production information fora firm that uses a fixed amount of capital and varyingamounts of labor. Use this information to answer thequestions. Do not round answers.What is the marginal product of the third worker?Third worker's marginal product:unitsWhat is the average product of the second worker? Roundyour answer to the nearest whole number.Second worker's average product:unitsWhat are diminishing marginal returns, and with whichworker do they set in for this firm?Diminishing marginal returns occur in the short runwhen variable inputs are added to a fixed input, andmarginal product declines. In this case, diminishingreturns set in with the fourth worker.O Diminishing marginal returns occur in the short runwhen variable inputs are added to a fixed input, andproduct declines. In this case diminishingWorkers1234Output (total product)23273337

Marginal product of labor is the change in total product from hiring one more worker.

Ⓒ Macmillan Learning Consider the table, which reports production information for a firm that uses a fixed amount of capital and varying amounts of labor. Use this information to answer the questions. Do not round answers. What is the marginal product of the third worker? Third worker's marginal product: units What is the average product of the second worker? Round your answer to the nearest whole number. Second worker's average product: units What are diminishing marginal returns, and with which worker do they set in for this firm? Diminishing marginal returns occur in the short run when variable inputs are added to a fixed input, and marginal product declines. In this case, diminishing returns set in with the fourth worker. Diminishing marginal returns occur in the short run when variable inputs are added to a fixed input, and Quorogo product declines. In this case diminishing Workers 1 2 3 4 Output (total product) 23 27 33 37