Question 1 The following table describes a daily production function for PINOY A Co., which hires worker: bananas for export. Fill out the blank cells using EXCEL Note: Price of 1 kilo =100, daily wage per w P400 What is the marginal product of each c 3RD & 4TH workers? No. of Total MP (kg) AP (kg) [ Select ] Law of Diminishing marginal returns s after how many workers? Product Workers (kls) per per worker worker [ Select ] 1500 4 4500 10500 8 15000 10 18000 12 19500 14 19500 Next

Question 1 The following table describes a daily production function for PINOY A Co., which hires worker: bananas for export. Fill out the blank cells using EXCEL Note: Price of 1 kilo =100, daily wage per w P400 What is the marginal product of each c 3RD & 4TH workers? No. of Total MP (kg) AP (kg) [ Select ] Law of Diminishing marginal returns s after how many workers? Product Workers (kls) per per worker worker [ Select ] 1500 4 4500 10500 8 15000 10 18000 12 19500 14 19500 Next

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter19: Labor And Entrepreneurship: The Human Inputs

Section: Chapter Questions

Problem 4TY

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