Illustrate what range of labor input is marginal product

Assignment Help Macroeconomics

Reference no: EM1335404

Determining the Onset of Diminishing Marginal Product

The number of repairs produced by a computer repair shop depends on the number of workers as follows:

# of workers / # of Repairs per week
0 0
1 8
2 20
3 35
4 45
5 52
6 57
7 60

Assume that all inputs (office space, telephone, utilities) other than labor are fixed in the short run.

(a) Add two additional columns to the table, and enter the marginal product and average product for each number of workers?

(b) Over what range of labor input are there increasing returns to labor? Diminishing returns to labor? Negative returns to labor?

(c) Over what range of labor input is marginal product greater than average product? What is happening to average product as employment increases over this range?

(d) Over what range of labor input is marginal product smaller than average product? What is happening to average product as employment increases over this range?

Reference no: EM1335404

Questions Cloud

Write down a big-inteter calculator program : note down a big-inteter calculator program that allows the user to enter two large integers and the operation to be performed and that calls the appropriate function to carry out the designated operation.

Analyzing the facets of team performance : Analyze the facets of team performance to determine which capacity is the mot important across the greatest number of situations. Provide specific examples to suport your response.

The creation of software projects : What can an IT manager do to be sure customers of the IT services have a voice in the creation of software projects?

Describe the collective bargaining process : Analyze and describe the collective bargaining process and the steps available to settle disputes when the parties cannot agree on a solution.

Illustrate what range of labor input is marginal product : Illustrate what range of labor input is marginal product smaller than average product. What is happening to average product as employment increases over this range.

Write down three separate simple exception handlers : Write down three separate simple exception handlers, one for dividing by zero, another for attempting to open a nonexistent file, and the last for an array out-of-bounds check.

Personal growth and development : Where would you look for the resources to support personal growth and development?

Computers and become better critical thinkers : Do you believe computers have hindered or helped people to become better critical thinkers?

Why was the employer fined : What is one aspect of FLSA that is important to work life today and what was the role of the collective voice in establishing this important area of the law?

User Account

All Pages