make sure the answer is corrrect 100% The following table represents data for a salon. Draw a graph showing total product , marginalproduct of labor and average product of labor . Identify where increasing returns, diminishin returmsand negative returns set in on the total product curveLaborUnits(Employees)Total Product(HaircutsPer Day)MarginalProductof LaborAverageProductof Labor7.0017108.5010.3311.0031144.4413551111.006410.677.699.86698.63657.225.901059

Total product refers to the total output produced by the firm with the given input at a specific…

The following table represents data for a salon. Draw a graph showing total product , marginal product of labor and average product of labor. Identify where increasing returns, diminishin returns and negative returns set in on the total product curve Total Product Labor Units (Employees) (Haircuts Per Day) Marginal Product of Labor Average Product of Labor 7. 17 7.00 10 8.50 10.33 31 14 4. 44 13 11.00 55 11 11.00 64 10.67 7. 69 9.86 69 863 9. 65 7.22 5.90 10 59

The following table represents data for a salon. Draw a graph showing total product , marginal product of labor and average product of labor. Identify where increasing returns, diminishin returns and negative returns set in on the total product curve Total Product Labor Units (Employees) (Haircuts Per Day) Marginal Product of Labor Average Product of Labor 7. 17 7.00 10 8.50 10.33 31 14 4. 44 13 11.00 55 11 11.00 64 10.67 7. 69 9.86 69 863 9. 65 7.22 5.90 10 59

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 6P

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