Fill in the missing values for a, b and c. Units of labour N Total product (TP) Average product (AP) Marginal product (MP) 1 8 2 18 a. Answer 3 b. Answer 8 4 c. Answer 4
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Fill in the missing values for a, b and c.
|
Units of labour N |
Total product (TP) |
Average product (AP) |
Marginal product (MP) |
|
1 |
|
|
8 |
|
2 |
18 |
a. Answer |
|
|
3 |
b. Answer |
8 |
|
|
4 |
c. Answer |
|
4 |
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- Labour (Units) Total Product (TPP) Average Product (APP) Marginal Product (MPP)0 01 1002 2503 3504 4005 4206 420Answer the following questions based on the table above:A. Calculate the Marginal Product and the average product. B. Explain the law of diminishing returns. C. Plot the marginal product and average product curves and explain the relationship between the two. D. What is the optimal number of workers for this business to hire? Label it on your graph in (C)A company produces 7040 Units of its product and sold it for $1.10 per unit. To produce these company receives the expenses as: Cost of labor: $1,000 Cost of materials: $520 Cost of overhead: $2000 What is the multifactor productivity?Complete the Table: Capital (K) Labor (L) Total Product Average Product Marginal Product (TP) (AP) (MP) 1 1 10 10 10 1222 12 1 3 37 12.33 14 12.2512 1558 9 1 6 64 10.67 1 7 9.57 3 1 8 67 8.38 1964 -3 110 5.8-6
- Answer the question on the basis of the following information. Number of Workers 0 1 2 3 4 5 6 Multiple Choice Total Product O 0 10 36 52 When five workers are employed, 64 total product is 60. total product is 58. averago product is 10 Marginal Product 10 12 81. Fill in the table Number of Workers 1 23 4 5 6 7 8 9 10 Total, Average, and Marginal Product of a Soap Manufacturer Total Output per day Average Product 50 bars 125 220 320 410 490 560 610 640 630 Marginal Product1. Complete the Table: Capital (K) 1 1 1 1 1 1 1 Labor (L) Total Product (TP) 10 1 2 3 4 5 6 7 8 9 10 22 37 ? 58 64 ? 67 64 ? Average Product (AP) 10 ? 12.33 12.25 ? 10.67 9.57 8.38 ? 5.8 Marginal Product (MP) 10 12 ? 12 9 ? 3 ? -3 -6
- estion Completion Status: QUESTION 9 The following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total Marginal product of labor (TPL) Average Product of labor (APL) Product (MPL) 0. 0. 1 20 30 3 36 4 40 42 6. 42 Based on the above table 1. How much is the marginal product (MIPL) of the 3rd labor? 2. Which labor has the largest marginal product? 3. What is the value of Average Product of labor (APL) at 5 labors. 4. If the price of DVD is $20, what is the values of Marginal Revenue Product of labor (MRPL) at 2nd labor ? 5. If the price of DVD is $20, and the labor's wage is $80, how many labors will be hired (L*?Labor Total Product Marginal Product Average Product 0 1 2 3 4 5 6 7 8 0 Blank 1 25 Blank 5 Blank 7 Blank 9 80 Blank 13 Blnak 15 Blank 2 Fill in the missing values based on the above production schedule table (Blackboard "Ultra" currently cannot display table formatting, so the below text is not displaying correctly). For the Average Product responses only, round your answer to TWO-decimal places; you MUST enter the decimal values even if it is a '0' - ie: enter 18.00 NOT 18). Labor Total Product Marginal Product Average Product 0 0 N/A N/A 1 Blank 1 Blank 2 10.00 2 25 Blank 3 Blank 4 3 Blank 5 20 Blank 6 4 Blank 7 Blank 8 15.75 5 Blank 9 12 Blank 10 6 80 Blank 11 Blank 127 Blank 13 0 Blank 14 8 Blank 15 Blank 16 8.50 Blank 1 Add your answer Blank 3 Blank 4 Blank 5 Blank 6 Blank 7 Blank 8 Blank 9 Blank 10 Blank 11 Blank 12 Blank 13 N/A Blank 2 Blank 3 20 Blank 8 12 Blank 14 Blank 11 0 Blank 16 Blank 15 Blank 16 Add your answer Add your answer Add your answer Add your answer Add your…Question 2 Labour (Units) Total Product (TPP) Average Product (APP) Marginal Product (MPP) 1 100 250 3 350 400 420 420 Answer the following questions based on the table above: A. Calculate the Marginal Product and the average product. В. Explain the law of diminishing returns. Plot the marginal product and average product curves and explain the relationship between the two. С. What is the optimal number of workers for this business to hire? Label it on your graph in (С). D.
- The change in ourtput or total product the business would achieve in the current period byexpanding the usė of an input by another unit is: O The Marginal physical product (b) Thie Total physicał product (0) The Average pbysical product (d) The Marginal valuè product,1 2 WN 3 4 5 6 7 8 9 WN=86 10 11 12 A B Capital (K) 1 1 1 1 1 1 1 1 1 1 с Labor (L) 1 AWNP 2 3 4 5 6 7 8 9 10 Total Product (TP) 10 Average Product (AP) 10 12.33 12.25 == 10.67 9.57 8.38 5.8 22 37 58 64 67 E 64 F Marginal Product (MP) 10 12 12 9 3 -3 -6 G 13 14 a. Complete the table above (SHOW FORMULAS USING EXCEL) 15 b. Create the graph of Total Product, Average Product, and Marginal Product as a function of Labor (SHOW STEP BY STEP PROCESS USING EXCEL) 16Labour (Units) Total Product (TPP) (MPP)0 01 1002 2503 3504 4005 4206 420Calculate the average product and marginal product Plot the average product and marginal product curves and explain the relationship between the two.
