Weekly production for a potter varies with the number of workers employed, as shown in the table below. Number of Total product (units of pots) Marginal product Average product workers 25 2 100 3 135 4. 152 5. 120 a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative values. b. Marginal product O rises when the first three workers are hired, falls and is positive when the next worker is hired, and is negative when the last worker is hired. O rises when the first worker is hired, falls and is positive when the next three workers are hired, andts negative when the last worker is hired. O rises when the first worker is hired, falls and is positive when the next two workers are hired, and is negative when the last two workers are hired. O rises when the first two workers are hired, falls and is positive when the next two workers are hired, and is negative when the last worker is hired.
Weekly production for a potter varies with the number of workers employed, as shown in the table below. Number of Total product (units of pots) Marginal product Average product workers 25 2 100 3 135 4. 152 5. 120 a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative values. b. Marginal product O rises when the first three workers are hired, falls and is positive when the next worker is hired, and is negative when the last worker is hired. O rises when the first worker is hired, falls and is positive when the next three workers are hired, andts negative when the last worker is hired. O rises when the first worker is hired, falls and is positive when the next two workers are hired, and is negative when the last two workers are hired. O rises when the first two workers are hired, falls and is positive when the next two workers are hired, and is negative when the last worker is hired.
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter19: Labor And Entrepreneurship: The Human Inputs
Section: Chapter Questions
Problem 4TY
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