Complete the Table by Filling in the Answers for Marginal

question 284

Essay

Complete the table by filling in the answers for marginal product and average product. When do negative returns set in?
$\begin{array}{|c|c|c|c|}\hline \text { Labor } & \text { Output } & \text { Marginal product } & \text { Average Product } \\\hline 0 & 0 & & \\\hline 1 & 10 & & \\\hline 2 & 20 & & \\\hline 3 & 28 & & \\\hline 4 & 31 & & \\\hline 5 & 32 & & \\\hline 6 & 30 & & \\\hline\end{array}$

---

Definitions:

Useful Life

The duration during which an asset is expected to be usable for its intended purpose.

Salvage Value

The projected remaining value of an asset following its operational lifespan, once depreciation or amortization has been taken into account.

Recoverable Ore

The portion of ore that can be economically and technically extracted or produced at a profit.

Depletion

The allocation of the cost of natural resources over their useful life, used in accounting to match the expense of extracting natural resources with the revenue generated from them.