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This table shows the amount of total output produced from various combinations of labor and capital (inputs).
This table shows the amount of total output produced from various combinations of labor and capital (inputs).
Calculate the Marginal Product of labor when capital = 1 unit, 2 units, 3 units, 4 units, and 5 units & then explain why the marginal product of labor changes the way it does depending on how much capital is being used (i.e., when the amount of capital increases, what happens to the marginal product of labor, and why).