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The short-run production function for a manufacturer of flash memory drives is shown in the table below Based on this information, answer the following questions


The short-run production function for a manufacturer of flash memory drives is shown in the table below. Based on this information, answer the following questions.

Input of Labor (workers per week) Total Output (Flash Memory Drives)

0 ………………………………………………….. 0

1 ………………………………………………… 25

2 ………………………………………………… 60

3 ………………………………………………… 85

4 ……………………………………………….. 105

5 ……………………………………………….. 115

6 ……………………………………………….. 120

a. Calculate the average physical product at each quantity of labor.

b. Calculate the marginal physical product of labor at each quantity of labor.

c. At what point does marginal product begin to diminish?

May 01 2020 View more View Less

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