Given the number of labor and the total product in the following table, 1- find the average product (APL) and marginal product (MPL) of labor. 2- Draw Total product (TP), average product (AP) and marginal product (MP) of labor curves

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter8: Productivity And Growth
Section: Chapter Questions
Problem 3.6P
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Given the number of labor and the total product in the following table, 1- find the average product (APL) and marginal product (MPL) of labor. 2- Draw Total product (TP), average product (AP) and marginal product (MP) of labor curves
Question 2
Given the number of labor and the total product in the following table,
1- find the average product (APL) and marginal product (MPL) of labor.
2- Draw Total product (TP), average product (APL) and marginal product (MPL) of labor
curves
Labor (L)
Total Product (TP)
Average Product of labor (APL) Marginal Product of labor (APL)
10
24
3
39
4
52
61
66
7
66
8
64
54
10
40
Transcribed Image Text:Question 2 Given the number of labor and the total product in the following table, 1- find the average product (APL) and marginal product (MPL) of labor. 2- Draw Total product (TP), average product (APL) and marginal product (MPL) of labor curves Labor (L) Total Product (TP) Average Product of labor (APL) Marginal Product of labor (APL) 10 24 3 39 4 52 61 66 7 66 8 64 54 10 40
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