The table shows total production of a firm. If units of labour (L) increase, find below. Units of LabourTotal Product (TP)Marginal Product (MP)Average Product (AP)00 180 2200 3330 4400 5450 6480 7490 8480 Compute the marginal product of labour (MP) and the average product (AP) of the various quantities of labour and enter them into table.There are increasing return to labour from the first through the ---------------- units of labor and decreasing return from the --------------through eighth units.When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------

Marginal product(MP) of labor(L) is the increment in the total product(TP) for a unit increase in…

Answered: Compute the marginal product of labour…

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Costs And The Supply Of Goods

Section: Chapter Questions

Problem 19CQ

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The table shows total production of a firm. If units of labour (L) increase, find below.

Units of Labour	Total Product (TP)	Marginal Product (MP)	Average Product (AP)
0	0
1	80
2	200
3	330
4	400
5	450
6	480
7	490
8	480

Compute the marginal product of labour (MP) and the average product (AP) of the various quantities of labour and enter them into table.
There are increasing return to labour from the first through the ---------------- units of labor and decreasing return from the --------------through eighth units.
When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------

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