Question: Suppose that in table 7.3 (page 210) the number of garden benches produced by 0, 1, 2, 3, and 4 workers is 0, 35, 70,

Suppose that in table 7.3 (page 210) the number of garden benches produced by 0, 1, 2, 3, and 4 workers is 0, 35, 70, 99, and 112. Calculate the marginal and average products of labor that would have resulted. Check that the relation between these average and marginal products satisfies the properties we discussed in section 7.2.

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Number of Workers Garden Benches MP L AP L 0 0 1 35 35 35 2 70 35 35 3 99 29 33 4 112 13 28 When the ... View full answer

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