Question: Fill in the gaps in the table below. ( Enter your responses rounded to two decimal places. ) Part 2 Quantity of Variable Input Total
Fill in the gaps in the table below.
Enter
your responses rounded to two decimal
places.
Part
Quantity of
Variable
Input
Total
Output
Marginal
Product of
Variable Input
Average Product
of Variable
Input
enter your response here
enter your response here
enter your response here
comma
enter your response here
enter your response here
enter your response here
enter your response here
comma
negative
B
At the point where average product begins to decline, marginal product is greater than average product. Since total product continues to increase, it may still be advantageous to hire another worker.
C
At the point where average product begins to decline, marginal product is equal to average product. Since total product begins to decrease at this point, it is not advantageous to hire another worker.
D
At the point where average product begins to decline, marginal product is greater than average product. Since total product begins to decrease at this point, it is not advantageous to hire another worker. Fill in the gaps in the table below. Enter your responses rounded to two decimal places.
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