Number of workers Units of output 150 Table 8.2 Refer to Table 8.2, which gives a...

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Number of workers Units of output 150 Table 8.2 Refer to Table 8.2, which gives a firms production function. Assume that all

business economics

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Answer 1

Answer #1

Marginal return from the first labor = 25

Marginal return from second labor = 30

Marginal return from third labor = 40

Marginal return from fourth labor = 30

Marginal return from fifth labor = 25

Hence diminishing returns occur from the fourth labor onwards.

And: C. Fourth labor.

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Answer 2

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