ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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workers |
ouput | marginal product | total cost | marginal cost | |
0 | 0 | 0 | 200 | 0 | $0 |
1 | 20 | 20 | 300 | $15 | $5 |
2 | 50 | 30 | 400 | $8 | $3.33 |
3 | 90 | 40 | 500 | $5.56 | $2.50 |
4 | 120 | 30 | 600 | $5 | $3.33 |
5 | 140 | 20 | 700 | $5 | $5 |
6 | 150 | 10 | 800 | $5.33 | $10 |
7 | 155 | 5 | 900 | $5.8 | $20 |
can you explain diminishing marginal product based on these numbers?
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