Wacky Wintersports Inc. can produce snowboards according to the following schedule
Question # 00122132
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Updated on: 10/22/2015 08:00 AM Due on: 11/21/2015
5. Wacky Wintersports Inc. can produce snowboards according to the following schedule.
| Inputs of Labour (per week) | Number of Snowboards (per week) | Average Product | Marginal Product |
| 0 | 0 | ||
| 1 | 2 | ||
| 2 | 5 | ||
| 3 | 9 | ||
| 4 | 14 | ||
| 5 | 18 | ||
| 6 7 8 | 21 23 24 |
a) Complete the table by calculating the marginal and average products.
b) Plot the AP and MP curves on a single graph, and identify the point of diminishing marginal product.
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Solution: Wacky Wintersports Inc. can produce snowboards according to the following schedule