Question: A B C D E 1 L (Labor) Q (Total Product) MP (Marginal Product) |AP (Average Product 2 0 0 3 10 10 10 4

A B C D E 1 L (Labor) Q (Total Product) MP (Marginal Product) |AP (Average Product 2 0 0 3 10 10 10 4 30 20 15 WON 5 60 30 20 6 100 40 25 130 30 26 8 150 20 25 9 168 18 24 10 184 16 23 11 189 5 21 17 10 190 19 13 11 187 -3 17 14 12 180 -7 15 15 16 17 1. Explain when increasing returns occurs. 18 When the TP, MP, and AP increase but the MP increases at a higher rate than the AP. 19 This is shown in the table from the first unit of labor to the fourth unit of labor. 20 Explain when diminishing marginal returns occurs. 21 When the MP eventually decreases after increasing the input such as labor. 22 This is shown in the table from the fifth unit of labor to the tenth unit of labor. 23 Explain when negative marginal returns occurs. 24 When the TP decreases, the MP becomes negative, and the AP is higher than the MP. 25 This is shown in the table from the eleventh unit of labor to the twelfth unit of labor
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