Question 1 The following table describes a daily production function for PINOY A Co., which hires worker: bananas for export. Fill out the blank cells using EXCEL Note: Price of 1 kilo =100, daily wage per w P400 What is the marginal product of each c 3RD & 4TH workers? No. of Total MP (kg) AP (kg) [ Select ] Law of Diminishing marginal returns s after how many workers? Product Workers (kls) per per worker worker [ Select ] 1500 4 4500 10500 8 15000 10 18000 12 19500 14 19500 Next

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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se the best Answer for each item. If none of the choices is within 5% of your answer, Choose None of the
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Question 1
The following table describes a daily production function for PINOY A Co., which hires worker:
bananas for export.
Fill out the blank cells using EXCEL
Note: Price of 1 kilo =100, daily wage per w
P400
What is the marginal product of each c
3RD & 4TH workers?
No. of
Total
MP (kg)
AP (kg)
[ Select ]
Law of Diminishing marginal returns s
Product
per
per
after how many workers?
Workers
(kls)
worker
worker
[ Select ]
2
1500
4
4500
6
10500
8
15000
10
18000
12
19500
14
19500
Next
Transcribed Image Text:se the best Answer for each item. If none of the choices is within 5% of your answer, Choose None of the es. Question 1 The following table describes a daily production function for PINOY A Co., which hires worker: bananas for export. Fill out the blank cells using EXCEL Note: Price of 1 kilo =100, daily wage per w P400 What is the marginal product of each c 3RD & 4TH workers? No. of Total MP (kg) AP (kg) [ Select ] Law of Diminishing marginal returns s Product per per after how many workers? Workers (kls) worker worker [ Select ] 2 1500 4 4500 6 10500 8 15000 10 18000 12 19500 14 19500 Next
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