Question

Answer the following problem on Labor Productivity, which we discussed in class:

The table below represents the labor production schedule for the Golden State Warriors. This professional sports team specializes in making baskets.

Inputs of Labor (Players)	Total Product (Points/game)	Marginal Product	Average Product
Number of players	0	-	-
1. K. Durant	15
2. S. Curry	34
3. K. Thompson	51
4. A. Iguodala	65
5. D. Green	74
6. S. Livingston	80
7. J. McGee	83
8. Z. Pachulia	83

A)Fill in the rest of the table.

B)Plot total product, average product, and marginal product on the same graph.

C)What determines the shape of the total product of labor curve?

D)What does the marginal product curve tell us about individual player productivity?

E)Based on labor productivity curves, how many players should this team use during the playoffs. (Explain your answer for full credit)

Answer 1

A)

Number of players	Total Product	Marginal Product	Average Product
0	0	0.0	0.0
1	15	15	15.0
2	34	19	17.0
3	51	17	17.0
4	65	14	16.3
5	74	9	14.8
6	80	6	13.3
7	83	3	11.9
8	83	0	10.4

B)

C)
Marginal product determines the shape of the total product of labor curve, which is additional output produced for an additional input

D)
The marginal product curve follows the diminishing marginal returns, according to which the output reaches a maximum and thereby starts to decrease with the increase in output

E)  
As per the labor productivity curve, 2 players needs to be used as the marginal product starts to decline with the increase in labor which shows decrease in productivity