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Exercise Questions 1. Suppose a chair manufacturer is producing in the short run. The manufacturer has observed the following levels of production corresponding to different

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Exercise Questions 1. Suppose a chair manufacturer is producing in the short run. The manufacturer has observed the following levels of production corresponding to different numbers of workers. a) Calculate the average product and marginal product of labour for this production function. H Does this production function demonstrate diminishing returns to labour? Explain 9/) Explain intuitively what might cause the marginal product of labour to become negative

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