Question 2.A From the table below illustrate the data in the table by graph Table 1. Find ; TP, MPL and APL Labor Total product Marginal product Average product 0 0 1 15 2 30 3 40 4 45 5 50 6 50 Question 2.B Give explanation the meaning of law diminishing return support your answer by giving example
Question 2.A From the table below illustrate the data in the table by graph Table 1. Find ; TP, MPL and APL Labor Total product Marginal product Average product 0 0 1 15 2 30 3 40 4 45 5 50 6 50 Question 2.B Give explanation the meaning of law diminishing return support your answer by giving example
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter8: Output, Price, And Profit: The Importance Of Marginal Analysis
Section8.A: Appendix The Relationships Among Total, Average, And Marginal Data
Problem 1TY
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Question 2: Answer the following questions
Question 2.A From the table below illustrate the data in the table by graph Table 1. Find ; TP, MPL and APL
Labor |
Total product |
Marginal product |
Average product |
0 |
0 |
|
|
1 |
15 |
|
|
2 |
30 |
|
|
3 |
40 |
|
|
4 |
45 |
|
|
5 |
50 |
|
|
6 |
50 |
|
|
Question 2.B Give explanation the meaning of law diminishing return support your answer by giving example
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