Construct yolanda''s marginal product

Reference no: EM131298020

Yolanda runs a bullfrog farm.When she employs 1 person, she produces 1,000 bullfrogs a week. When she hires a second worker, her total product doubles. Her total product doubles again when she hires a third worker. When she hires a fourth worker, her total product increases but by only 1,000 bullfrogs. Yolanda pays $1,000 a week for equipment and $500 a week to each worker she hires.

Construct Yolanda's marginal product and average product schedules. Over what range of workers does Yolanda's experience increasing marginal returns?

Reference no: EM131298020

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