The table shows total production of a firm. If units of labour (L) increase, find below. 2 marks 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) from first to eighth units of labour.Now compute 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.d. When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ---------------- AutoSaveASSIGNMENT-2 Business Economics.docx - Protected View - Saved to this PC -o SearchSign inOffFileHomeInsertDrawDesignLayoutReferencesMailingsReviewViewHelpA ShareP CommentsJUITUassignment 2.Problem-1: The table shows total production of a firm. If units of labour (L)increase, find below.2 marksMarginal Product Average Product(MP)Units of LabourTotal Product(TP)(ТР)(АР)1802200333044005450648074904808a. Compute the marginal product of labour (MP) from first to eighth units of labour.b. Now compute the average product (AP) of the various quantities of labour andenter them into table.c. There are increasing return to labour from the first through theunitsof labor and decreasing return from the -----------through eighth units.d. When total production is increasing, marginal product is (positive, negative) -------------- and when total production is decreasing, marginal product isProblem -2: The following table gives total output or total product as a functionPage 1 of 3457 wordsD Focus100%4:45 PMP Type here to search后 )121/15/2021近

We use the following formulas, Marginal product = Current total product - Previous total product…

The table shows total production of a firm. If units of labour (L) increase, find below. 2 marks 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) from first to eighth units of labour. Now compute 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. d. When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------

The table shows total production of a firm. If units of labour (L) increase, find below. 2 marks 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) from first to eighth units of labour. Now compute 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. d. When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 42P: A small company that shovels sidewalks and driveways has 100 homes signed up for its services this...

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