Calculate the average physical product at each quantity of, Ask an Expert

Economics

The short-run production function for a manufacturer of flash memory drives is shown in the table below. Based on this information, answer the following problem.

Input of Labor

(workers per week) Total Output of Flash Memory Drives
0 0
1 25
2 60
3 85
4 105
5 115
6 120

a. find out the average physical product at each quantity of labor.
b. find out the marginal physical product of labor at each quantity of labor
c. At what point does marginal product begin to diminish?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M947031

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