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) 16

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) 16

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

SHOW FORMULAS ON EXCEL PLEASE

STEP BY STEP

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)
16

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