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Consider the following production schedule for firm G. Qty of Input Total Marginal Average (labour) Product Product Product 0 0 10 2 25 3 35

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Consider the following production schedule for firm G. Qty of Input Total Marginal Average (labour) Product Product Product 0 0 10 2 25 3 35 40 UT 40 6 42 (a) Compute the marginal and average products for each worker. (4 marks) (b) Explain what law of diminishing return means? (3 marks) 1 (c) On separate graph, plot the marginal and average production functions At what number of workers does the law of diminishing return sets in? (3 marks) Maximum Files

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