Question 6 Table 4-1 below shows the relationships between labor and output for XYZ Inc. Output by Worker Marginal Product Average Product of # workers Total Output of Labor Labor 0 0 NA NA 1 4 3. 18 4 5 30 5.33 Complete Table 4-1. Use up to two decimal places where needed. (0.5 ea blank)

Question 6 Table 4-1 below shows the relationships between labor and output for XYZ Inc. Output by Worker Marginal Product Average Product of # workers Total Output of Labor Labor 0 0 NA NA 1 4 3. 18 4 5 30 5.33 Complete Table 4-1. Use up to two decimal places where needed. (0.5 ea blank)

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Chapter1: Making Economics Decisions

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2. The short-run production function for a manufacturer Number of Workers (Quantity of Labor) 1. 2. 3. 4. 5. 6. 7. of DVD drives is as follows Total Output of DVD Drives 0 a. Calculate the average product (AP) at each quantity of labor. b. Calculate the marginal product (MP) at each quantity of labor. 42000 90000 135000 160000 175000 174000 c. Which worker(s) are in the region of increasing marginal returns? d. Which worker(s) are in the region of diminishing marginal returns? e. Which worker(s) are in the region of negative marginal returns? f. In the region of diminishing marginal returns, what is happening to marginal cost?
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ull touch LTE 10:11 PM @ O 35% Done A docs.google.com AA C account * Required Section C Which of the following statements is true? * If average product equals marginal product, average product decreases. If marginal product equals average product, marginal product is a maximum. If marginal product equals average O product, average product is a maximum. If marginal product exceeds average product, marginal product increases.
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