At what point do diminishing returns set in

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Reference no: EM131096587

Suppose that 0 workers generate 0 output, 1 worker generates 8 units of output, 2 workers generate 20, 3 workers generate 35, 4 workers generate 45, and 5 workers generate 47 units of output, 6 workers generate 47 units of output, while 7 workers generate 44 units of output.

a. Calculate the MP and the AP for each worker

b. Clearly and accurately graph the TP, MP and AP curves.

c. At what point do diminishing returns set in? How would we know this had occurred?

Reference no: EM131096587

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