Table 1 - Labor and output data Units of Labor Units of Output 0 0 1 15 2 38 3 62 4 75 In Table 1, which unit of labor starts the law of “diminishing” returns?  Include any equation formula if any.       Answers: A.  3rd   B.  4th   C.  2nd   D.  1st

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Table 1 - Labor and output data

Units of Labor

Units of Output

0

0

1

15

2

38

3

62

4

75

In Table 1, which unit of labor starts the law of “diminishing” returns?  Include any equation formula if any.

 

 

 

Answers:

A. 

3rd

 

B. 

4th

 

C. 

2nd

 

D. 

1st

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