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Chapter 4: Theory of Production 3. The table shows the output and number of labour. Average Product Total Product Labour Land Marginal Product 0 0

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Chapter 4: Theory of Production 3. The table shows the output and number of labour. Average Product Total Product Labour Land Marginal Product 0 0 5 5 15 5 32.5 50 101 5 36 31 3 24 28 140 9 149 143 20.4 140 135 a. Complete Table 1 (3 points) b. Sketch the Total Product, Average Product and Marginal Product curves in a graph. Indicates the stages of production. (4 points) C. Explain the Law of Diminishing marginal returns and what number of workers does the diminishing return set in? (3 points)

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