Suppose a firm produces hardware that plays video games using workers according to the table below. Suppose also that its output sells for $175 per unit.
Workers, Output
0, 0
1, 24
2, 36
3, 42
4, 45
5, 47
Is the firm experiencing the effects predicted by the law of diminishing returns?
The firm is or is not experiencing diminishing returns?
What is the marginal revenue product of the third worker?
The third workers marginal revenue product is $_______
