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Diminishing Marginal Productivity TOTAL AND MARGINAL PRODUCT FH PRODUCTIVITY CALCIIATIONS Instructions: Move the slider at the bottom of the diagram to change the quantity of
Diminishing Marginal Productivity TOTAL AND MARGINAL PRODUCT FH PRODUCTIVITY CALCIIATIONS Instructions: Move the slider at the bottom of the diagram to change the quantity of labor hired for both graphs and the table. Note from the table that this production function follows the law of diminishing marginal productivity. Complete the paragraph below that describes how this law is demonstrated by the slope of the curve. The slope of the total product function between consecutive units of labor (ex: between 2 and 3, or between 3 and 4 ) is the same as . As labor increases between O and 6 units, the graph gets . This means the slope is | exactly as stated in the law of diminishing marginal productivity. Beyond 6 units of labor, the graph slopes downward, which implies marginal product has further diminished and become
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