2.6 The following table represents data for Alias Salon. Draw a graph showing the total product, marginal

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2.6 The following table represents data for Alia’s Salon. Draw a graph showing the total product, marginal product of labor, and average product of labor. Identify where increasing returns, diminishing returns, and negative returns set in on the total product curve. Labor Units (Employees) Total Product (Haircuts per Day) Marginal Product of Labor Average Product of Labor 0 0 – – 1 7 7 7.00 2 17 10 8.50 3 31 14 10.33 4 44 13 11.00 5 55 11 11.00 6 64 9 10.67 7 69 5 9.86 8 69 0 8.63 9 65 −4 7.22 10 59 −6 5.90

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Principles Of Microeconomics

ISBN: 9780691150093

13th Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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