Consider the table below, which describes the amount of output produced by various quantities of workers. 35- Marginal Average 30- Quantity of Workers Total Product Product Output of Labor of Labor 25- 1 9. 9. 2 30 21 15 20- 3 48 18 16 4 60 12 15 15- Use the numbers from the table above to draw a graph showing the marginal product of labor and the average product of labor. 1.) Use the four-point curve drawing tool to plot the marginal product of abor (for workers 1 through 4). Properly label this curve. 2.) Use the four-point curve drawing tool to plot the average product of abor. Properly label this curve. Quantity of workers Carefully follow the instructions above, and only draw the required objects. Marginal product, average product
Consider the table below, which describes the amount of output produced by various quantities of workers. 35- Marginal Average 30- Quantity of Workers Total Product Product Output of Labor of Labor 25- 1 9. 9. 2 30 21 15 20- 3 48 18 16 4 60 12 15 15- Use the numbers from the table above to draw a graph showing the marginal product of labor and the average product of labor. 1.) Use the four-point curve drawing tool to plot the marginal product of abor (for workers 1 through 4). Properly label this curve. 2.) Use the four-point curve drawing tool to plot the average product of abor. Properly label this curve. Quantity of workers Carefully follow the instructions above, and only draw the required objects. Marginal product, average product
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Consider the table below, which describes the amount of output produced
by various quantities of workers.
35-
Marginal
Average
30-
Quantity of
Workers
Total
Product
Product
Output
of Labor
of Labor
25-
1
9
30
21
15
20-
3
48
18
16
4
60
12
15
15-
Use the numbers from the table above to draw a graph showing the
marginal product of labor and the average product of labor.
10-
1.) Use the four-point curve drawing tool to plot the marginal product of
labor (for workers 1 through 4). Properly label this curve.
5-
2.) Use the four-point curve drawing tool to plot the average product of
labor. Properly label this curve.
0-
Quantity of workers
Carefully follow the instructions above, and only draw the required
objects.
Marginal product, average product
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