Use the following to answer questions :
Figure: The Total Product
-(Figure: The Total Product) Use Figure: The Total Product.When L₂ labour is hired,the total product is at a _____ and the marginal product of labour is _____.

Question

Use the following to answer questions :
Figure: The Total Product

-(Figure: The Total Product) Use Figure: The Total Product.When L₂ labour is hired,the total product is at a _____ and the marginal product of labour is _____.

Quizplus · Accepted Answer

When L2 labour is hired, the total product is at a maximum, and the marginal product of labour is zero because any additional labour beyond this point does not increase total output.

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