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1.4 Production, costs and revenue

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Question 29

The table below shows how a firm's total and average product change, in the short run, with different inputs of labour.

Number of workersTotal productAverage product
39030
416040
525050
631853
735050

Diminishing marginal returns to labour set in when the firm employs

4 workers

5 workers

6 workers

7 workers

1.4 Production, costs and revenue Questions

  1. A Level
  2. /Economics
  3. /1.4 Production, costs and revenue