Use the following to answer question:
-(Figure: The Total Product) Use Figure: The Total Product.As labor is hired between L₁ and L₂,the total product is _____ and the marginal product is _____.

Question

Use the following to answer question:

-(Figure: The Total Product) Use Figure: The Total Product.As labor is hired between L₁ and L₂,the total product is _____ and the marginal product is _____.

Quizplus · Accepted Answer

As labor is hired between L₁ and L₂, the total product is increasing as the amount of labor input is increasing. The marginal product is positive because each additional unit of labor is adding more output than the previous unit, indicating increasing returns to scale.

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