Calculating Marginal Product of Labor
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Number of Workers Output
0 0
1 50
2 110
3 300
4 450
5 590
6 665
7 700
8 725
9 710
10 705
The table show the weekly relationship between output and number of workers for a factory with a fixed size of plant. Find:
a. Calculate the marginal product of labor
b. At what point does diminishing returns set in
c. Calculate the average product of labor
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Solution Summary
This explains the marginal product of labor.
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The law of diminishing marginal returns says that after a possible ...
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