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Do we see evidence of diminishing marginal product

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Reference no: EM13942779

Complete the following table:

1782_68-L-B-L-B-O (412).png

a. At what point (in terms of workers) do we see evidence of diminishing marginal product? At the point (in terms of number of workers) 3 we see evidence of diminishing marginal product.

b. Is the slope of the Total Product curve steeper when 2 workers are employed or when 5 workers are employed? Since the Marginal product of labor is 14 when 2 workers are employed and 12 when 5 workers are employed and we know marginal product of labor is the slope of Total Product curve, so we can say the slope of the Total Product curve is steeper when 2 workers are employed than when 5 workers are employed. 

Reference no: EM13942779

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