Ec module 3 Discussion
• Watch the this video from Cool Hand Luke below or on YouTube:
• Think of Paul Newman’s production function in terms of inputs (elapsed time) and outputs (eggs eaten). What would this production function look like if you graphed it? I.E. Would Newman’s production function exhibit increasing, decreasing, or constant marginal returns? Now describe a situation in your own life in which you have experienced diminishing marginal returns. This should be 2 paragraphs.
• Then respond to the classmate post below (1 paragraph).
Classmate post:
In the video, Paul Newman consumed 50 eggs. First, he ate eggs quickly, but after each egg, the speed of egg consumption was reduced and the time between each successful egg consumption was increased after each egg. Paul Newman’s production function at the start has an increasing marginal return as he starts consuming the eggs, then the marginal return will start decreasing as each egg takes longer to consume.
