Answer to Question #86800 in Microeconomics for Samer Alfahad

Question

If you hire 20 units of labor, what will be the average product of labor? State below and show on the graph.


b. If you hire 20 units of labor, what’s the total number of pencils your firm can produce? Compute below.


c. At what amount of labor does diminishing average returns begin? State below and show on the graph.

Answer 1

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