Table 18-1 $$\begin{array} { | c | c | c | c | c | c | }
\hline \begin{array} { c }
\text { Number of } \
\text { Workers }
\end{array} & \text { Output } & \begin{array} { c }
\text { Marginal Product } \
\text { of Labor }
\end{array} & \begin{array} { c }
\text { Value of Margina1 } \
\text { Product of Labor }
\end{array} & \text { Wage } & \text { Marginal Profit } \
\hline 0 & 0 & & & & \
\hline 1 & 100 & & \$ 1000 & \$ 500 & \$ 500 \
\hline 2 & & 80 & \$ 800 & \$ 500 & \
\hline 3 & & 60 & & \$ 500 & \$ 100 \
\hline 4 & 280 & & & \$ 500 & \
\hline 5 & & 20 & & & \
\hline
\end{array}$$ $\begin{array}{|l|l|l|l|l|l|}\hline\begin{array}{l}
\text { Number of } \
\text { Workers }
\end{array} & \text { Output } & \begin{array}{l}
\text { Marginal Product of } \
\text { Labour }
\end{array} & \begin{array}{l}
\text { Value of Marginal } \
\text { Product of Labour }
\end{array}&\text { Wage }&\text { Marginal Profit } \
\hline &0&0\
\hline 1 & 25 & 25 & \$ 125 & \$ 40 & \$ 85 \
\hline 2 & 45 & 20 & \$ 100 & \$ 40 & \$ 60 \
\hline 3 & 60 & 15 & \$ 75 & \$ 40 & \$ 35 \
\hline 4 & 70 & 10 & \$ 50 & \$ 40 & \$ 10 \
\hline 5 & 75 & 5 & \$ 25 & \$ 40 & -\$ 15 \
\hline
\end{array}$
-Refer to Table 18-1.The change in marginal product as the number of workers increases exemplifies a property called:

Question

Table 18-1 $$\begin{array} { | c | c | c | c | c | c | } 
\hline \begin{array} { c } 
\text { Number of } \
\text { Workers }
\end{array} & \text { Output } & \begin{array} { c } 
\text { Marginal Product } \
\text { of Labor }
\end{array} & \begin{array} { c } 
\text { Value of Margina1 } \
\text { Product of Labor }
\end{array} & \text { Wage } & \text { Marginal Profit } \
\hline 0 & 0 & & & & \
\hline 1 & 100 & & \$ 1000 & \$ 500 & \$ 500 \
\hline 2 & & 80 & \$ 800 & \$ 500 & \
\hline 3 & & 60 & & \$ 500 & \$ 100 \
\hline 4 & 280 & & & \$ 500 & \
\hline 5 & & 20 & & & \
\hline
\end{array}$$ $\begin{array}{|l|l|l|l|l|l|}\hline\begin{array}{l}
\text { Number of } \
\text { Workers }
\end{array} & \text { Output } & \begin{array}{l}
\text { Marginal Product of } \
\text { Labour }
\end{array} & \begin{array}{l}
\text { Value of Marginal } \
\text { Product of Labour }
\end{array}&\text { Wage }&\text { Marginal Profit } \
\hline &0&0\
\hline 1 & 25 & 25 & \$ 125 & \$ 40 & \$ 85 \
\hline 2 & 45 & 20 & \$ 100 & \$ 40 & \$ 60 \
\hline 3 & 60 & 15 & \$ 75 & \$ 40 & \$ 35 \
\hline 4 & 70 & 10 & \$ 50 & \$ 40 & \$ 10 \
\hline 5 & 75 & 5 & \$ 25 & \$ 40 & -\$ 15 \
\hline
\end{array}$
-Refer to Table 18-1.The change in marginal product as the number of workers increases exemplifies a property called:

Quizplus · Accepted Answer

The change in marginal product as the number of workers increases exemplifies the property of diminishing marginal product, which states that as the quantity of a variable input (in this case, labor) increases while other inputs are held constant, the marginal product of that variable input will eventually decrease. This is reflected in Table 18-1, as the marginal product of labor decreases from 80 to 60 to 20 as the number of workers increases from 2 to 3 to 5, respectively.

Table 18-1 -Refer to Table 18-1