Explore BrainMass
Share

Explore BrainMass

    Calculating Marginal Product of Labor

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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

    © BrainMass Inc. brainmass.com October 9, 2019, 6:07 pm ad1c9bdddf
    https://brainmass.com/economics/labour-economics/calculating-marginal-product-labor-78589

    Solution Preview

    The law of diminishing marginal returns says that after a possible ...

    Solution Summary

    This explains the marginal product of labor.

    $2.19