Problem
Yolanda runs a bullfrog farm.When she employs 1 person, she produces 1,000 bullfrogs a week. When she hires a second worker, her total product doubles. Her total product doubles again when she hires a third worker. When she hires a fourth worker, her total product increases but by only 1,000 bullfrogs. Yolanda pays $1,000 a week for equipment and $500 a week to each worker she hires.
Construct Yolanda's marginal product and average product schedules. Over what range of workers does Yolanda's experience increasing marginal returns?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.