Calculate the average
Number Of Workers Output
The table above shows the weekly relationship between output and number of workers for a factory with a fixed size of plant. Calculate the marginal product of labor. Calculate the average product of labor. At what point does diminishing returns set in?
Use Excel to graph the Marginal and Average Product Curves and comment on the relationship between the two curves.
Discuss the problems encountered (if any), when graphing the curves in Excel.
The expert determines how to calculate the marginal product of labor based on output figures and how to calculate the average product of labor based on output figures. When the law of diminishing returns sets in is determined.