We R' Write is really worried about their production line for pens. The company is concerned that they are employing more workers on the production line than necessary. We R' Write has provided you with the production information for pens in the table below that corresponds to different numbers of workers on the production line. Describe where the law of diminishing marginal productivity begins for We R' Write. We R' Write currently uses 75 workers on the production line per day. Given the calculations in the table, is this number optimal? Why, or why not? If you could make a suggestion regarding the optimal number of workers We R' Write should use on the production line, what would it be? Why? Number of Workers per Day 0 15 30 45 60 Pens Produced per Day 0 1,000 2,700 5,100 7,900 Average Product 66.67 90.00 113.33 131.67 Marginal Product 67 113 160 187 Price per Pen $3.50 $3.50 $3.50 $3.50 $3.50 Total Value Product $0.00 $52.50 $105.00 $157.50 $210.00 Average Value Product $233.33 $315.00 $396.67 $460.83 Marginal Value Product $233.33 $396.67 $560.00 $653.33 Price of Worker per Day $560 $560 $560 $560 $560 75 90 105 120 135 150 165 180 12,000 15,700 18,100 20,300 21,900 22,300 22,300 21,500 160.00 174.44 172.38 167.17 162.22 148.67 135.15 119.44 273 247 160 147 107 27 -53 $3.50 $3.50 $3.50 $3.50 $3.50 $3.50 $3.50 $3.50 $262.50 $315.00 $367.50 $420.00 $472.50 $525.00 $577.50 $630.00 $560.00 $610.56 $603.33 $592.08 $567.78 $520.33 $473.03 $418.06 $956.67 $863.33 $560.00 $513.33 $373.33 $93.33 $0.00 -$186.67 $560 $560 $560 $560 $560 $560 $560 $560 We R' Write is really worried about their production line for pens. The company is concerned that they are employing more workers on the production line than necessary. We R' Write has provided you with the production information for pens in the table below that corresponds to different numbers of workers on the production line. Describe where the law of diminishing marginal productivity begins for We R' Write. We R' Write currently uses 75 workers on the production line per day. Given the calculations in the table, is this number optimal? Why, or why not? If you could make a suggestion regarding the optimal number of workers We R' Write should use on the production line, what would it be? Why? Number of Workers per Day 0 15 30 45 60 Pens Produced per Day 0 1,000 2,700 5,100 7,900 Average Product 66.67 90.00 113.33 131.67 Marginal Product 67 113 160 187 Price per Pen $3.50 $3.50 $3.50 $3.50 $3.50 Total Value Product $0.00 $52.50 $105.00 $157.50 $210.00 Average Value Product $233.33 $315.00 $396.67 $460.83 Marginal Value Product $233.33 $396.67 $560.00 $653.33 Price of Worker per Day $560 $560 $560 $560 $560 75 90 105 120 135 150 165 180 12,000 15,700 18,100 20,300 21,900 22,300 22,300 21,500 160.00 174.44 172.38 167.17 162.22 148.67 135.15 119.44 273 247 160 147 107 27 -53 $3.50 $3.50 $3.50 $3.50 $3.50 $3.50 $3.50 $3.50 $262.50 $315.00 $367.50 $420.00 $472.50 $525.00 $577.50 $630.00 $560.00 $610.56 $603.33 $592.08 $567.78 $520.33 $473.03 $418.06 $956.67 $863.33 $560.00 $513.33 $373.33 $93.33 $0.00 -$186.67 $560 $560 $560 $560 $560 $560 $560 $560