Final Revision Use the following information to explain all sub-sections of question 2. Karon runs a bread
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Question:
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Final Revision
Use the following information to explain all sub-sections of question 2.
Karon runs a bread bakery. When she employs 1 person, she produces 1,000 loaves of bread a week. When she hires a second worker, her total product is 2,000 loaves of bread. Her total product is 4,000 loaves a bread when she hires a third worker. When she hires a fourth worker, her total product increases but by only 1,000 loaves of bread. Karon pays $1,250 a week for equipment and $500 a week to each worker she hires.
a)Construct Karon's marginal product and average product schedules by filling the table below. Over what range of workers does Karon experience increasing marginal returns?
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6679455d0ae10_6446679455ce4c33.jpg)
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![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6679455dc5daa_6456679455da943b.jpg)
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