Number of Plants (K)Number of Workers (L)Total Production (Y)Marginal Product of Labour Average Product of Labour11 200 12 83 13 64 14 54 15 47 16 0 Calculate and fill in the total Product columnCalculate and fill in the Average Product ColumnWith fixed capital, the firm can increase its marginal Product (MP) by increasing its workers infinitely. Do you agree or disagree with the statement and why?When does diminishing marginal return occur in the above table

The total cost of the firm shows the monetary value of the inputs used by the firm in the production…

Answered: Number of Plants (K) Number of Workers…

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 3SQP

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Number of Plants (K)	Number of Workers (L)	Total Production (Y)	Marginal Product of Labour	Average Product of Labour
1	1		200
1	2		83
1	3		64
1	4		54
1	5		47
1	6		0

Calculate and fill in the total Product column
Calculate and fill in the Average Product Column
With fixed capital, the firm can increase its marginal Product (MP) by increasing its workers infinitely. Do you agree or disagree with the statement and why?
When does diminishing marginal return occur in the above table

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