Weekly production for a potter varies with the number of workers employed, as shown in the table below. Number of Total product (units of pots) Marginal product Average product workers 25 2 100 3 135 4. 152 5. 120 a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative values. b. Marginal product O rises when the first three workers are hired, falls and is positive when the next worker is hired, and is negative when the last worker is hired. O rises when the first worker is hired, falls and is positive when the next three workers are hired, andts negative when the last worker is hired. O rises when the first worker is hired, falls and is positive when the next two workers are hired, and is negative when the last two workers are hired. O rises when the first two workers are hired, falls and is positive when the next two workers are hired, and is negative when the last worker is hired.

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Weekly production for a potter varies with the number of workers employed, as shown in the table below.
Number of
Total product
(units of pots) Marginal product Average product
workers
25
2.
100
ces
3
135
4
152
120
a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative
values.
b. Marginal product
O rises when the first three workers are hired, falls and is positive when the next worker is hired, and is negative when the last
worker is hired
O rises when the first worker is hired, falls and is positive when the next three workers are hired, andts negative when the last
worker is hired.
O rises when the first worker is hired, falls and is positive when the next two workers are hired, and is negative when the last two
workers are hired.
O rises when the first two workers are hired, falls and is positive when the next two workers are hired, and is negative when the
last worker is hired.
Mc
Graw
Hill
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Transcribed Image Text:Weekly production for a potter varies with the number of workers employed, as shown in the table below. Number of Total product (units of pots) Marginal product Average product workers 25 2. 100 ces 3 135 4 152 120 a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative values. b. Marginal product O rises when the first three workers are hired, falls and is positive when the next worker is hired, and is negative when the last worker is hired O rises when the first worker is hired, falls and is positive when the next three workers are hired, andts negative when the last worker is hired. O rises when the first worker is hired, falls and is positive when the next two workers are hired, and is negative when the last two workers are hired. O rises when the first two workers are hired, falls and is positive when the next two workers are hired, and is negative when the last worker is hired. Mc Graw Hill < Prev 10 of 12 Next > MacBook Air DII 20 888 FB F4 F3 & 23 $ % @ 4 6. 7 1 3 E R Y Q W K D F C V coma command B
c. Enter the values for average product at each employment level in the table above.
d. For this potter, marginal product and average product are related as follows.
Average product equals marginal product when (Click to select)
Marginal product is greater than average product when | (Click to select)
Marginal product is less than average product when (Click to select)
e. Average product varies based on its relation to marginal product.
When an additional worker is hired if the new marginal product is above the previous average product, then average product
O rises, which occurs when the second worker is hired.
O rises, which occurs when the second and third workers are hired.
O falls, which occurs when the second and third workers are hired.
O falls, which occurs when the last three workers are hired.
When an additional worker is hired, if the new marginal product is below the previous average product then average product
O rises, which occurs when the second worker is hired.
O rises, which occurs when the second and third workers are hired.
O falls, which occurs when the second and third workers are hired.
O falls, which occurs when the last three workers are hired.
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Transcribed Image Text:c. Enter the values for average product at each employment level in the table above. d. For this potter, marginal product and average product are related as follows. Average product equals marginal product when (Click to select) Marginal product is greater than average product when | (Click to select) Marginal product is less than average product when (Click to select) e. Average product varies based on its relation to marginal product. When an additional worker is hired if the new marginal product is above the previous average product, then average product O rises, which occurs when the second worker is hired. O rises, which occurs when the second and third workers are hired. O falls, which occurs when the second and third workers are hired. O falls, which occurs when the last three workers are hired. When an additional worker is hired, if the new marginal product is below the previous average product then average product O rises, which occurs when the second worker is hired. O rises, which occurs when the second and third workers are hired. O falls, which occurs when the second and third workers are hired. O falls, which occurs when the last three workers are hired. < Prev 10 of 12 Next >
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