Janitors per evening Classrooms cleaned per evening 12 16 17 17 16 What is the marginal product of the second janitor? What is the average product of four janitors? Is the addition of the third janitor associated with increasing, diminishing, or negative marginal returns? Explain Is the addition of the fourth janitor associated with increasing, diminishing, or negative marginal returns? Explain Is the addition of the seventh janitor associated with increasing, diminishing, or negative marginal returns? Explain Draw the total product, average product, and marginal product curves and shade the regions corresponding to increasing marginal returns, decreasing marginal returns, and negative marginal returns Calculate the slope of the total product curve as each janitor is added Characterize the nature of marginal returns in the region where The slope of the total product curve is positive and increasing The slope of the total product curve is positive and decreasing The slope of the total product curve is negative Suppose a firm is producing 1,000 units of output Its average fixed costs are $100 Its average variable costs are $50 What is the total cost of producing 1,000 units of output? Attributed to Libby Rittenberg and Timothy Tregarthen Saylor URL: http://www.saylor.org/books/ Saylor.org 458