OFair,%20Sharon%20E.%200ster%20-%20Principles%20of%20Econo..Page view AN Read aloud I DrawE HighlightErase2.6 The following table represents data for Sally's Salon.Draw a graph showing the total product, marginal prod-uct of labor, and average product of labor. Identify whereincreasing returns, diminishing returns, and negativereturns set in on the total product curve.LaborUnitsTotal Product(HaircutsPer Day)MarginalProductof LaborAverageProduct(Employees)of Labor7.7.0017108.503311410.334441311.00551111.00649.10.67699.86698.639.65-D47.2210595.902.7 Assume that we have a production process that exhibitsincreasing and then decreasing marginal productivity.That is, as we increase output, the marginal product oflabor starts at some level above zero, rises to a maximum,and then eventually falls to zero. Which of the followingstatements is truc? Briefly explain6:07 PMDesktopd) ENG4/23/2021

2.6) Labor refers to the human resource that is used as a factor input in the production process.…

2.6 The following table represents data for Sally's Salon. Draw a graph showing the total product, marginal prod- uct of labor, and average product of labor. Identify where increasing returns, diminishing returns, and negative returns set in on the total product curve. Labor Units Total Product Marginal Average (Haircuts Product Product (Employees) 0 Per Day) of Labor of Labor 0 10 1234567890 7 7 7.00 17 10 8.50 31 14 10.33 44 13 11.00 55 11 11.00 64 9 10.67 69 69 65 59 5076 9.86 8.63 7.22 -6 5.90