Use the following to answer questions :
Figure: The Total Product
-(Figure: The Total Product) Use Figure: The Total Product.As labour is hired between L₁ and L₂,the total product is _____ and the marginal product is _____.

Question

Use the following to answer questions :
Figure: The Total Product

-(Figure: The Total Product) Use Figure: The Total Product.As labour is hired between L₁ and L₂,the total product is _____ and the marginal product is _____.

Quizplus · Accepted Answer

In the given figure, we can see that as more labor is hired between L₁ and L₂, the total product is increasing, which means more output is being produced. Also, the marginal product is positive, which means that each additional unit of labor is adding more output to the production process. Therefore, the best choice is A.

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