Production in the Short Run A1 L (Labor)23456700 a891011121314151617CDQ (Total Product) MP (Marginal Product) AP (Average Product)0123456789101112B01030601001301501681841891901871801. Explain when increasing returns occurs.181920 Explain when diminishing marginal returns occurs.212223 Explain when negative marginal returns occurs.242526272829303132332. Why does that occur? Are the last people you hired just lazy?

Since you have posted multiple questions with multiple sub parts, we will provide the solution only…

A 1 L (Labor) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 C D Q (Total Product) MP (Marginal Product) AP (Average Product) 0 1 2 3 4 6 8 9 10 11 12 B 0 10 30 60 100 130 150 168 184 189 190 187 180 16 17 18 19 20 Explain when diminishing marginal returns occurs. 21 1. Explain when increasing returns occurs. 22 23 Explain when negative marginal returns occurs. 24 25 26 2. Why does that occur? Are the last people you hired just lazy?

A 1 L (Labor) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 C D Q (Total Product) MP (Marginal Product) AP (Average Product) 0 1 2 3 4 6 8 9 10 11 12 B 0 10 30 60 100 130 150 168 184 189 190 187 180 16 17 18 19 20 Explain when diminishing marginal returns occurs. 21 1. Explain when increasing returns occurs. 22 23 Explain when negative marginal returns occurs. 24 25 26 2. Why does that occur? Are the last people you hired just lazy?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Production in the Short Run

A
1 L (Labor)
2
3
4
56700 a
8
9
10
11
12
13
14
15
16
17
C
D
Q (Total Product) MP (Marginal Product) AP (Average Product)
0
1
2
3
4
56
7
8
9
10
11
12
B
0
10
30
60
100
130
150
168
184
189
190
187
180
1. Explain when increasing returns occurs.
18
19
20 Explain when diminishing marginal returns occurs.
21
22
23 Explain when negative marginal returns occurs.
24
25
26
27
28
29
30
31
32
33
2. Why does that occur? Are the last people you hired just lazy?

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