23:40 Tue, 27 DecTable 1 shows the production of corn by Syarikat Usaha. Answer the followingquestions based on the table.Land(piece)11111Tractor(units)22222222Document (3) - SavedTable 1. Production of cornTotalproduct(tons)824Worker(peoples)1234567854829510010096AverageProduct(tons)MarginalProduct(tons)Identify the time frame of this firm is operating in and give your reason.At which number of workers, the diminishing marginal return begins? Whydiminishing marginal return could happen?**22%ir

Part 1 The time frame that the firm is operating is that of short run. In the short run only one…

Land (piece) 1 1 Tractor (units) 2 NNNNNNNN 2 2 2 2 2 2 2 Worker (peoples) 1 2 3 5 6 7 8 Total product (tons) 8 24 54 82 95 100 100 96 Average Product (tons) Marginal Product (tons) Identify the time frame of this firm is operating in and give your reason. At which number of workers, the diminishing marginal return begins? Why diminishing marginal return could happen?

Land (piece) 1 1 Tractor (units) 2 NNNNNNNN 2 2 2 2 2 2 2 Worker (peoples) 1 2 3 5 6 7 8 Total product (tons) 8 24 54 82 95 100 100 96 Average Product (tons) Marginal Product (tons) Identify the time frame of this firm is operating in and give your reason. At which number of workers, the diminishing marginal return begins? Why diminishing marginal return could happen?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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