Why the diminishing returns has been encountered

Assignment Help Econometrics

Reference no: EM13239172

Suppose a business finds that output varies according to the following schedule as it adds more workers:

Workers Total Product Marginal Product Average Product
0 0 -
1 10 10
2 25 12.5
3 42
4 58
5 70
Fill in the marginal product and average product columns. Diminishing marginal returns is encountered with the addition of which worker?

2. Notice that average product (that is, output per worker) continues to rise after marginal product has fallen. Why? How can it be that output per worker can rise after the point of diminishing returns has been encountered?

Reference no: EM13239172

Questions Cloud

What is the average total cost for the 10th unit of output : What is the average total cost for the 10th unit of output 4. Why does the marginal cost of producing the product fall and then rise (What is the relationship between the cost curves and the production function)

Explain hcl at second equivalence point : What is the pH of 50 mL of .122M sodium glycinate titrated with .100M HCL at second equivalence point

Compute a value for the molar solution of h3po3 : For H3PO3, Ka1 = 1.0x10- 2and Ka2 = 2.6x10-7. Calculate a value for the [H2PO3] in a 0.500 molar solution of H3PO3

Determine the maximum height of the ball : A ball is thrown toward a cliff of height h with a speed of 30m/s and an angle of 60? above horizontal, What was the maximum height of the ball

Why the diminishing returns has been encountered : Notice that average product (that is, output per worker) continues to rise after marginal product has fallen. Why How can it be that output per worker can rise after the point of diminishing returns has been encountered

Explain solution of sodium chloride to make a solution : What volume (in mL) of water must be added to a 1.133 M solution of sodium chloride to make a 52.4 mL of a 0.52024 M solution? Assume the volumes are additive.

How much is refundable when the license is transferable : A local restaurateur whose business had been profitable for many years recently purchased a liquor license, giving her a legal right to sell beer, wine and spirits at the restaurant. The license cost $75,000. While the license is transferable

Determine the focal length does the lens need : A slide projector needs to create a 86 cm high image of a 2.0 cm tall slide, What focal length does the lens need and How far should you place the lens from the slide

Explain what is the concentration of the chloride ion : What is the concentration (in M) of the chloride ion when 16 mL of a 0.625 M solution of sodium chloride is combined with 17.3 mL of a 0.551 M solution of iron(III) chloride to a final volume of 56.5 mL

User Account

All Pages