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Suppose a chair manufacturer is producing in the short run (with its existing plant and equipment). The manu- facturer has observed the following levels of produc- tion corresponding to different numbers of workers:
NUMBER OFWORKERS
NUMBER OF CHAIRS
1
10
2
18
3
24
4
28
5
30
6
7
25
a. Calculate the marginal and average product of labor for this production function.
b. Does this production function exhibit diminishing returns to labor? Explain.
c. Explain intuitively what might cause the marginal product of labor to become negative.
When the two countries did not specialize, the total production of corn was 36 million bushels per month, and the total production of jeans was 104 million pairs per month
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