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QUESTION 3 Table: Labor and Output for Cappuccinos Quantity of Number of Labor Cappuccinos O O N LO What is the marginal product of labor

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QUESTION 3 Table: Labor and Output for Cappuccinos Quantity of Number of Labor Cappuccinos O O N LO What is the marginal product of labor for the second worker (from L=1 to L=2)? What is the marginal product of labor for the sixth worker (from L=5 to L=6)? Does the Cappuccino Firm experience diminishing marginal returns? QUESTION 4 The following firm is operating in the short run: Capital (K) Labor (L) Output (Q) 100 175 225 250 True False

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