Topic:
1. What is “marginal product of labor?
2. What does “diminishing marginal product” indicate? Does it mean that total output is declining? Why or why not?
3. Use the table below to calculate the marginal product of labor for each worker. For example, MP for the 1st worker = 5, MP for the 2nd worker ? 6… (Please note: Those numbers are not correct)
4. Using the table and your calculated marginal products, when does diminishing marginal product begin? After hiring which worker?
5. Reply to a classmate
Output and MP
Labor (Workers) Total Product (Output) Marginal Product of Labor (MP)
0 0 –
1 90
2 190
3 270
4 340
Directions:
1. You must make a post before viewing the posts of your classmates. So, your initial post must contain the substantial content for which you would like to receive a grade. If your initial post is blank or does not contain your full answer, you will not receive full points.
2. You must also reply to one other post before the due date.
3. You should write approximately 6 sentences and about 250 words. Please check your work for spelling and grammar errors to avoid a loss of points.
4. Writing assignments are based on the 10 point rubric explained in the syllabus.
5. As stated in the syllabus, academic honesty is imperative. Anv incidence of plagiarism will receive a score of zero. This includes, but is not limited to, any part of your answer being found to be cut and pasted off the internet (including sites like Coursehero and Chegg). or if you change every other word by using synonyms.
6. If your response doesnt match the questions, then you will receive a score of zero.
