1. The following is a production schedule of a certain firm. Fill the missing value for average product (AP) and marginal product (MP). Land Labor TP AP MP 1 1 1 6 1 2 16 1 3 24 1 4 30 1 34 1 34 1 7 32 1 8 26

1. The following is a production schedule of a certain firm. Fill the missing value for average product (AP) and marginal product (MP). Land Labor TP AP MP 1 1 1 6 1 2 16 1 3 24 1 4 30 1 34 1 34 1 7 32 1 8 26

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

1. The following is a production schedule of a certain firm. Fill the missing value for average
product (AP) and marginal product (MP).
Land
Labor
TP
AP
MP
1
1
1
6
1
2
16
1
3
24
1
4
30
1
34
1
34
1
7
32
1
8
26

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