Given the data on the table, answer what is asked on the items below: Labor Input TPL AP. MP. L 1 7 18 3 30 4 44 62 6 78 88 8 94 9. 94 10 92 1. Compute the MPL & APL schedules above 2. Plot TP, AP. & MP. on a graphing paper and indicate the 3 production stages 3. What is the most efficient level of labor? (Highest AP.) 4. The Law of Diminishing Returns occurs at - worker. 5. When TP declines, MP i . 6. When MP is greater than AP, AP is. 7. What is the fixed input use in this production? - 8. What is the variable input use in this production? _ 9. When MP is 0, TP is at - of Labor. - point of production at_ level Q 10. State the Law of Diminishing Return. Based on the computed MP, at what input level does the law starts to operate?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Given the data on the table, answer what is asked on the items below:
Labor Input
TPL
AP
MPL
L
1
7
18
30
4
44
5
62
6
78
7
88
8
94
9.
94
10
92
1. Compute the MPL & APL schedules above
2. Plot TPL, APL & MPL on a graphing paper and indicate the 3
production stages
3. What is the most efficient level of labor? (Highest APL)
4. The Law of Diminishing Returns occurs at
worker.
5. When TP declines, MP is .
6. When MP is greater than AP, AP is
7. What is the fixed input use in this production?
8. What is the variable input use in this production?.
9. When MP is 0, TP is at
- point of production at.
level Q
of Labor.
10. State the Law of Diminishing Return. Based on the computed MPL,
at what input level does the law starts to operate?
Transcribed Image Text:Given the data on the table, answer what is asked on the items below: Labor Input TPL AP MPL L 1 7 18 30 4 44 5 62 6 78 7 88 8 94 9. 94 10 92 1. Compute the MPL & APL schedules above 2. Plot TPL, APL & MPL on a graphing paper and indicate the 3 production stages 3. What is the most efficient level of labor? (Highest APL) 4. The Law of Diminishing Returns occurs at worker. 5. When TP declines, MP is . 6. When MP is greater than AP, AP is 7. What is the fixed input use in this production? 8. What is the variable input use in this production?. 9. When MP is 0, TP is at - point of production at. level Q of Labor. 10. State the Law of Diminishing Return. Based on the computed MPL, at what input level does the law starts to operate?
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