Q.5.2 Table 1 below, shows the output of 6 machinists in the sewing section of the business on a daily basis. Use this information to explain, and illustrate numerically, the law of diminishing returns to Mrs Samuels. In your explanation, you should also refer to the marginal product and average product of the machine operators. Table 1 Number of machine operators Total items stitched per day 1 15 2 42 3 75 4 113 5 154 6 190
Q.5.2 Table 1 below, shows the output of 6 machinists in the sewing section of the business on a daily basis. Use this information to explain, and illustrate numerically, the law of diminishing returns to Mrs Samuels. In your explanation, you should also refer to the marginal product and average product of the machine operators. Table 1 Number of machine operators Total items stitched per day 1 15 2 42 3 75 4 113 5 154 6 190
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
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Q.5.2
Table 1 below, shows the output of 6 machinists in the sewing section of the business on a daily basis. Use this information to explain, and illustrate numerically, the law of diminishing returns to Mrs Samuels. In your explanation, you should also refer to the marginal product and average product of the machine operators.
Table 1
Number of machine operators | Total items stitched per day |
1 | 15 |
2 | 42 |
3 | 75 |
4 | 113 |
5 | 154 |
6 | 190 |
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