Consider the data below from the Walsh Widget Company of Cape Cod, Mass. on widget production from 2012-2018, for their third shift of workers. Since Walsh is a publicly traded company, the data was derived from the corporate web site of their accounting firm, Rafferty, Risi, and Bettke, LLC. (FYI the site does not really exist) on July 14, 2019, from Pages 27-31, Table 7B of their report: Walsh Widgets and the Third Shift of Workers. THIS IS COPYRIGHTED MATERIAL

THIS IS COPYRIGHTED MATERIAL

In a clearly and accurately labeled line graph, which will be known as Graph 8, created using Excel, plot the total product (TP), marginal product (MP), and average product (AP) curves based on that data.

Referencing only your TP and MP curves, identify where the law of diminishing returns has set in and stated how we would recognize it on each of the curves you have constructed.

Referencing only your TP and MP curves, identify where negative returns have been set and how we would recognize that on each of the curves you have constructed.

Referencing all your constructed curves, identify where labor productivity has been maximized, on each curve and which curve most clearly illustrates this.