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Scenario1: The following is a hypothetical shortminus run productionfunction: Hours of Total Marginal Labor Output Product 0_ _ 1 100 100 2_ 80 3 240_

Scenario1: The following is a hypothetical shortminus

run productionfunction:

Hours of Total Marginal

Labor Output Product

0___ ___

1 100 100

2___ 80

3 240___

Refer to Scenario 1. What is the average product of the first three hours oflabor?

100

240

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