Question 2 The data of average productivity for each number of workers for a firm are given in the table below. Table 2 Number of workers Total product Marginal product Average productivity 1 2 10 4...


Question 2<br>The data of average productivity for each number of workers for a firm are given in the table<br>below.<br>Table 2<br>Number of workers<br>Total product<br>Marginal product<br>Average<br>productivity<br>1<br>2<br>10<br>4<br>12<br>11<br>6.<br>10<br>a) Complete the table by calculating the Total Product of Labor and Marginal Product of Labor<br>corresponding to each number of workers.<br>b) At which number workers does the Law of Diminishing Marginal Returns start working and<br>why?<br>c) Differentiate between economies of scale and return to scales?<br>

Extracted text: Question 2 The data of average productivity for each number of workers for a firm are given in the table below. Table 2 Number of workers Total product Marginal product Average productivity 1 2 10 4 12 11 6. 10 a) Complete the table by calculating the Total Product of Labor and Marginal Product of Labor corresponding to each number of workers. b) At which number workers does the Law of Diminishing Marginal Returns start working and why? c) Differentiate between economies of scale and return to scales?

Jun 08, 2022
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