Total Product Labor Units (number of workers) (Units produced per hour) 400 900 1,500 1,900 2,200...

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Total Product Labor Units (number of workers) (Units produced per hour) 400 900 1,500 1,900 2,200 2,400 2,300 Refer to the ab

business economics

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Answer 1

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Labor units	Total Product	Marginal Product of Labor
0	0	-
1	400	400
2	900	500
3	1500	600
4	1900	400
5	2200	300
6	2400	200
7	2300	-100

Marginal product of labor is the amount of total product that each additional unit of labor adds to the existing product.

Here we see the marginal product of labor increases initially and then starts declining. From the table we can see that the diminishing marginal product of labor sets in when the 4th worker is employed.

Thus marginal product of labor starts diminishing from the point where 4 Labor Units were employed. From that point it keeps on diminishing and reaches a negative value.

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Answer 2

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