2. Study the below table and answer the under listed questions Input Yield 0 75 150 225 300 375 450 475 350 1050 1350 1500 1650 1700 1600 1500 e Average Product Marginal Product Value Of Marginal Product (AP) (VMP) MP Fill in the missing numbers in the table for AP and MP(Show all thorkings with formula) b. Fill in the VMP column in the table using N500/yield as the product price. c. What is the profit for the maximum yield ifselling price is N700/yield and cost price is N500/yield ?

2. Study the below table and answer the under listed questions Input Yield 0 75 150 225 300 375 450 475 350 1050 1350 1500 1650 1700 1600 1500 e Average Product Marginal Product Value Of Marginal Product (AP) (VMP) MP Fill in the missing numbers in the table for AP and MP(Show all thorkings with formula) b. Fill in the VMP column in the table using N500/yield as the product price. c. What is the profit for the maximum yield ifselling price is N700/yield and cost price is N500/yield ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Number 2 only.