Variable input labour Fixed input Land Marginal product Total product Average product 1 5acres 9 2 5acres 20 3 5acres 33 4 5acres 48 5 5acres 55 6 5acres 60 7 5acres 63 8 5acres 64 9 5acres 63 10 5acres 60 i. Complete the table above ii. On the same table show the various stages of production. iii. Explain why marginal product of labour is negative.
Variable input labour Fixed input Land Marginal product Total product Average product 1 5acres 9 2 5acres 20 3 5acres 33 4 5acres 48 5 5acres 55 6 5acres 60 7 5acres 63 8 5acres 64 9 5acres 63 10 5acres 60 i. Complete the table above ii. On the same table show the various stages of production. iii. Explain why marginal product of labour is negative.
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 5P
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Question
Variable input labour | Fixed input Land | Marginal product | Total product | Average product |
1 | 5acres | 9 | ||
2 | 5acres | 20 | ||
3 | 5acres | 33 | ||
4 | 5acres | 48 | ||
5 | 5acres | 55 | ||
6 | 5acres | 60 | ||
7 | 5acres | 63 | ||
8 | 5acres | 64 | ||
9 | 5acres | 63 | ||
10 | 5acres | 60 |
i. Complete the table above
ii. On the same table show the various stages of production.
iii. Explain why marginal product of labour is negative.
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