Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

SECTION B: STRUCTURE QUESTIONS (30 MARKS) QUESTION 1 (CLO2; C3) The table shows the total production of Goods A produced by Sepadujaya Enterprise in the

image text in transcribed
SECTION B: STRUCTURE QUESTIONS (30 MARKS) QUESTION 1 (CLO2; C3) The table shows the total production of Goods A produced by Sepadujaya Enterprise in the short run. Number of workers Total Product (units) (units) Marginal Product Average Product 0 0 1 10 2 24 40 58 73 83 88 92 92 10 89 Based on the table, answer the following questions. (a) Complete the columns for marginal product and average product. (5 marks) (b) Draw a diagram to show the Total Product, Average Product and Marginal Product curves. In the same diagram, show the stages of production. (7 marks) (c) Write the range number of workers of production below: i) increasing marginal return. (1 mark) ii) diminishing marginal return. (1 mark) negative marginal return. (1 mark) (d) Ascertain the number of workers who have the highest marginal product? (1 mark) (e) Assign at what number of workers does Stage II end. (1 mark) (f) Being a rational producer, provide which stage of production that Sepadujaya Enterprise choose. Share a reason to support your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Capitalism Its Fall And Rise In The Twentieth Century

Authors: Jeffry A Frieden

1st Edition

0393058085, 9780393058086

More Books

Students also viewed these Economics questions

Question

List the differences between OAS and KWS.

Answered: 1 week ago