Given the number of labor and the total product in the following table, 1- find the average product (AP:) and marginal product (MP1) of labor. 2- Draw Total product (TP), average product (APt) and marginal product (MP1) of labor curves Labor (L) Total Product (TP) | Average Product of labor Marginal Product of labor (APL) (APL) 1 10 2 24 3 39 4 52 5 61 6. 66 7 66 8 64 9 54 10 40
Given the number of labor and the total product in the following table, 1- find the average product (AP:) and marginal product (MP1) of labor. 2- Draw Total product (TP), average product (APt) and marginal product (MP1) of labor curves Labor (L) Total Product (TP) | Average Product of labor Marginal Product of labor (APL) (APL) 1 10 2 24 3 39 4 52 5 61 6. 66 7 66 8 64 9 54 10 40
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 3.7P
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![Given the number of labor and the total product in the following table,
1- find the average product (APL) and marginal product (MPL) of labor.
2- Draw Total product (TP), average product (APL) and marginal product (MPL) of labor curves
Labor (L)
Total Product (TP) | Average Product of labor Marginal Product of labor (APL)
(APL)
1
10
24
3
39
4
52
5
61
6
66
7
66
8
64
9
54
10
40](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7ddcef4-6d7c-4d3e-8a88-7276f866cb44%2Fc21b605c-0885-400a-b8b9-9abcfc47fbf5%2Fuf7qukr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Given the number of labor and the total product in the following table,
1- find the average product (APL) and marginal product (MPL) of labor.
2- Draw Total product (TP), average product (APL) and marginal product (MPL) of labor curves
Labor (L)
Total Product (TP) | Average Product of labor Marginal Product of labor (APL)
(APL)
1
10
24
3
39
4
52
5
61
6
66
7
66
8
64
9
54
10
40
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