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Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022 Exercise 20
Digging clams by hand in Sunset Bay requires only labor input. The total number of clams obtained per hour (q) is given by 
where L is labor input per hour.
a. Graph the relationship between q and L.
b. What is the average productivity of labor (output per unit of labor input) in Sunset Bay? Graph this relationship and show that output per unit of labor input diminishes for increases in labor input.
c. The marginal productivity of labor in Sunset Bay is given by
Graph this relationship and show that labor's marginal productivity is less than average productivity for all values of L. Explain why this is so.
where L is labor input per hour.
a. Graph the relationship between q and L.
b. What is the average productivity of labor (output per unit of labor input) in Sunset Bay? Graph this relationship and show that output per unit of labor input diminishes for increases in labor input.
c. The marginal productivity of labor in Sunset Bay is given by
Graph this relationship and show that labor's marginal productivity is less than average productivity for all values of L. Explain why this is so.
Explanation
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Only labor input is required to dig clam...
Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
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