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In which employment range is marginal product

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Reference no: EM132336503

Question

1) Daily production for Pot-Work, a flowerpot maker, varies with the number of workers employed, as shown in the table below:

Labour (workers per day)

Total Product (pots per day)

Marginal Product (pots per day

Average Product (pots per day)

0

0

1

100

2

280

3

510

4

560

5

550

a) Fill in the Table

b) In which employment range is marginal product rising? Falling and positive? Negative?

c) On one graph plot the Total Product curve. What is meant by diminishing returns and at what point do diminishing returns set in?

d) On another graph, plot the Marginal Product curve and Average Product curve.

Reference no: EM132336503

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