ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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(Figure: Determining Marginal Returns) Based on both the table and the figure, adding a third
worker leads to
marginal returns.
Average Product and Marginal Product
Output
1
2
3
14
Labor
5
6
17
12
10
8
6
4
8
9
10
0
-2
BAY
constant
2
Total
Product
O negative
5
12
21
31
40
48
54
57
57
increasing
54
diminishing
4
MP
5
7
9
10
9
8
6
3
0
3
6
Workers
AP
5
6
7
7.75
8
8
7.71
7.12
6.33
5.4
8
10
12
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Transcribed Image Text:(Figure: Determining Marginal Returns) Based on both the table and the figure, adding a third worker leads to marginal returns. Average Product and Marginal Product Output 1 2 3 14 Labor 5 6 17 12 10 8 6 4 8 9 10 0 -2 BAY constant 2 Total Product O negative 5 12 21 31 40 48 54 57 57 increasing 54 diminishing 4 MP 5 7 9 10 9 8 6 3 0 3 6 Workers AP 5 6 7 7.75 8 8 7.71 7.12 6.33 5.4 8 10 12
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