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

Question

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

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

Quizplus · Accepted Answer

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

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