rUse the table below to answer the following questions. Show yourwork and briefly explain your answers.Q (total product)MPL----1102040854a. What is the marginal product of labor for the 1st worker?b. What is the total product when the 4th worker is hired?c. At which worker does diminishing marginal returns set in?

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Description: rUse the table below to answer the following questions. Show yourwork and briefly explain your answers.Q (total product)MPL----1102040854a. What is the marginal product of labor for the 1st worker?b. What is the total product when the 4th worker is

Total Product(TP):- Total product refers to the total quantity of goods produced by firm during a…

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Use the table below to answer the following questions. Show your work and briefly explain your answers. Q (total product) MPL ---- 1 10 20 3 40 4 8. 54 a. What is the marginal product of labor for the 1st worker? b. What is the total product when the 4th worker is hired? c. At which worker does diminishing marginal returns set in?

Use the table below to answer the following questions. Show your work and briefly explain your answers. Q (total product) MPL ---- 1 10 20 3 40 4 8. 54 a. What is the marginal product of labor for the 1st worker? b. What is the total product when the 4th worker is hired? c. At which worker does diminishing marginal returns set in?

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