Question

The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP 60 150 90 300 150 400 100 5 460 As the cookie producer increases the workforce from 2 to 3 workers the production process exhibits increasing marginal product Check

just need answer for last one

Answer 1

Workers (L)	Cookies (Q)	MP
0	0	-
1	60	60
2	150	90
3	300	150
4	400	100
5	460	60

At L = 1, Delta Q = 60 - 0 = 60

Delta L = 1 - 0 = 1

So MP₁ = Delta Q / Delta L = 60 / 1 = 60

Similarly, doing for other units. we get the MP schedule

As the # of workers increases from 2 to 3 units, the MP increases from 90 to 150. So, the production process exhibits an increasing marginal product.