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Use the table below to answer the following questions. Show your work and briefly explain your answers. L Q (total product) MP L 0 0
- Use the table below to answer the following questions. Show your work and briefly explain your answers.
L | Q (total product) | MPL |
---|---|---|
0 | 0 | ---- |
1 | 20 | |
2 | 30 | |
3 | 90 | |
4 | 30 | |
5 | 140 |
- What is the marginal product of labor for the 1st worker?
- What is the total product when the 4th worker is hired?
- At which worker does diminishing marginal returns set in?
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