please computation for the following production function. found in table 13 show computation for each row. Labor(Man Hours)123456789101112Total Product/Output51016212424211610520Table 13Production FunctionMarginalProduct (Units)556530(3)(5)(6)(5)(3)(2)Average Product(Units)555.35.24.54321.10.50.20Stage 1Stage 2Stage 3Stage 4

The Law of Diminishing Marginal returns states that in the short run, as more and more variable…

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please computation for the following production function

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

please computation for the following production function. found in table 13 show computation for each row.

Labor
(Man Hours)
1
2
3
4
5
6
7
8
9
10
11
12
Total Product/
Output
5
10
16
21
24
24
21
16
10
5
2
0
Table 13
Production Function
Marginal
Product (Units)
5
5
6
5
3
0
(3)
(5)
(6)
(5)
(3)
(2)
Average Product
(Units)
5
5
5.3
5.2
4.5
4
3
2
1.1
0.5
0.2
0
Stage 1
Stage 2
Stage 3
Stage 4

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