Info in images Complete the following table by calculating marginal product and average product.Instructions: Enter your answers as a whole number.Inputs ofLaborMarginalProductAverageProductTotal Product115234351464575684791896The total product curve is shown on the left. Plot the marginal and average product curves using the data from the table.Instructions: (1) Use the tools provided 'AP' and 'MP' to draw the average product (AP) and marginal product (MP) curves. (2) To earnfull credit for this graph, you must plot all required points (L = 1, 2, 3, 4, 5, 6, 7, and 8) for each curve. Total ProductAverage and Marginal Product100ToolsTP8580757065605550454035302520151015АРМP10-50 1-52346.78.9.12346 7 8 9Labor inputLabor inputDiminishing returns begin with the addition of the (Click to select) vEworker.20LOMarginal and average productO5O5O5050505050505 o505Ō990 0ONNO65544332211Total product

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Economics

omplete the following table by calculating marginal product and average product.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 3.7P

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Complete the following table by calculating marginal product and average product.
Instructions: Enter your answers as a whole number.
Inputs of
Labor
Marginal
Product
Average
Product
Total Product
1
15
2
34
3
51
4
64
5
75
6
84
7
91
8
96
The total product curve is shown on the left. Plot the marginal and average product curves using the data from the table.
Instructions: (1) Use the tools provided 'AP' and 'MP' to draw the average product (AP) and marginal product (MP) curves. (2) To earn
full credit for this graph, you must plot all required points (L = 1, 2, 3, 4, 5, 6, 7, and 8) for each curve.

Total Product
Average and Marginal Product
100
Tools
TP
85
80
75
70
65
60
55
50
45
40
35
30
25
20
15
10
15
АР
МP
10
-5
0 1
-5
2
3
4
6.
7
8.
9.
1
2
3
4
6 7 8 9
Labor input
Labor input
Diminishing returns begin with the addition of the (Click to select) vEworker.
20
LO
Marginal and average product
O5O5O5050505050505 o505
Ō990 0ONNO65544332211
Total product

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