A firm's total product of labour curve is represented by the following data: one worker can produce 4 units of output; two workers, 10 units; three workers, 17 units; four workers, 25 units; five workers, 30 units; six workers, 35 units; seven workers, 38 units; eight workers, 39 units; and nine workers, 38 units. What is the marginal product of the seventh worker? When does the law of diminishing marginal product set in? Under these circumstances would you ever choose to employ nine workers?

Question

Quizplus · Accepted Answer

The Answer of A firm's total product of labour curve is represented by the following data: one worker can produce 4 units of output; two workers, 10 units; three workers, 17 units; four workers, 25 units; five workers, 30 units; six workers, 35 units; seven workers, 38 units; eight workers, 39 units; and nine workers, 38 units. What is the marginal product of the seventh worker? When does the law of diminishing marginal product set in? Under these circumstances would you ever choose to employ nine workers?

A Firm's Total Product of Labour Curve Is Represented by the Following