Consider the following short run production function.

Q	0	15	35	60	90	115	135	150	160	165	167	168
L	0	1	2	3	4	5	6	7	8	9	10	11

Set up a table that includes the total product, average product and marginal product of labour. Is this production function consistent with diminishing returns?

 

 

Posted Date: 2/27/2013 7:46:03 AM | Location : United States

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