Please solve Max in 30-45 minutes thank u and no reject. Please send the solution thank u... Chapter Microeconomics 2. Compute the average and marginal product of labor?Amount ofTotalAverageProductMarginalProductOutputLabor (L)Capital (K)1000210005050:2 = 25(50-0):(2-0)= 25(150-50):(5-2)=33.3331000150150:5= 30(350-150):(10-5)=40101000350350:10= 35(525-350):(15-10=35151000525525:15= 35(680-525):(20-15=31201000680680:20= 34(800-680):(25-20=242510008001000:25= 32Formula :Average productMarginal product: output/labor input: change in output/change in labor input

Average product = Total output / Labor Marginal product = Change in total output / Change in labor

2. Compute the average and marginal product of labor? Amount of Total Average Product Marginal Product Output Labor (L) Capital (K) 1000 1000 50 50:2 = 25 (50-0):(2-0)= Z %3D 1000 (150-50):(5-2) 33.333 150 150:5= 30 350 (350-150):(10-5 40 10 1000 350:10= 35 525 (525-350):(15-1 =35 15 1000 525:15= 35 (680-525):(20-1 =31 20 1000 680 680:20= 34 (800-680):(25-2 =24 25 1000 800 1000:25= 32 Formula : 2.

2. Compute the average and marginal product of labor? Amount of Total Average Product Marginal Product Output Labor (L) Capital (K) 1000 1000 50 50:2 = 25 (50-0):(2-0)= Z %3D 1000 (150-50):(5-2) 33.333 150 150:5= 30 350 (350-150):(10-5 40 10 1000 350:10= 35 525 (525-350):(15-1 =35 15 1000 525:15= 35 (680-525):(20-1 =31 20 1000 680 680:20= 34 (800-680):(25-2 =24 25 1000 800 1000:25= 32 Formula : 2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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