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pl6 pl6
wrote...
Posts: 166
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3 years ago
1. Complete the following table, (average product and marginal product of labour) and plot the points.
I had already completed the average product column, in which you had to divide the total product by the # of workers. But I was confused about the meaning of marginal product and how to calculate it.
Second part of the Question:
2. a)at what number of labourer's does the firm experience diminishing marginal returns? 
    b)at what number of labourer's does the firm experience negative marginal returns?
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wrote...
Educator
3 years ago
1. Complete the following table, (average product and marginal product of labour) and plot the points. I had already completed the average product column, in which you had to divide the total product by the # of workers. But I was confused about the meaning of marginal product and how to calculate it.

I THINK it's found by taking the differences in the average products.



Any advice given by your teacher? Here's a source I found to help a little...
Source  https://www.tutor2u.net/economics/reference/marginal-revenue-product-of-labour-1
pl6 Author
wrote...
3 years ago
Here's the answer key to the chart maybe that will help? well we were given a formula but I wasn't getting the right answers it was ∆TP/∆L
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wrote...
Educator
3 years ago
Yup, I was wrong. You get the marginal product of labour by taking the differences of the total product column, NOT the average product.

@pl6 how come you always reveal that you have the answers afterwards?! Grinning Face with Smiling Eyes What's the rationale behind that?
pl6 Author
wrote...
3 years ago
oh ok how about finding the number of labourer's does the firm experience diminishing marginal returns/negative? Would the negative one be 10?
@pl6 how come you always reveal that you have the answers afterwards?! Grinning Face with Smiling Eyes What's the rationale behind that?
oh srry I do that because maybe the answers would help you understand what I meant.
wrote...
Educator
3 years ago
After 5 workers you get diminishing returns, notice how it goes from 38 (a maximum) to something less in the next row.

Yeah, the tutors would appreciate some transparency that you've been given the answers so we don't waste our time. We're technically doing this for free
pl6 Author
wrote...
3 years ago
After 5 workers you get diminishing returns, notice how it goes from 38 (a maximum) to something less in the next row.
Oh but not till you get to the negative numbers, so it would be 5-8?
And for negative marginal return it would actually be 9 because that's when you first start to see the negative marginal of labour.

wrote...
Educator
3 years ago
Oh but not till you get to the negative numbers, so it would be 5-8?

I believe it starts when there's that turn of events, that is, maximum value has been reached.

Quote
And for negative marginal return it would actually be 9 because that's when you first start to see the negative marginal of labour.

Yes.
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