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Calculating Marginal Product of Labor

Number of Workers Output
0 0
1 50
2 110
3 300
4 450
5 590
6 665
7 700
8 725
9 710
10 705

The table show the weekly relationship between output and number of workers for a factory with a fixed size of plant. Find:

a. find out the marginal product of labor

b. At what point does diminishing returns set in

c. find out the average product of labor

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M924141

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