LaborTotalMarginalAverageProductInputProductProduct147777.021587.512-3248.043288.010-3977.86457.58-7507.11.) Using the 4-point curved line drawing tool, draw the marginal product curve,and label this line 'MP'6-4-2.) Using the 4-point curved line drawing tool, draw the average product curve,and label this line 'AP'.2-(For your control points, use 1,3, 4, and 7 units of labor.)Carefully follow the instructions above, and only draw the required objects.0-10Units of LaborMP, AP

LABOR INPUT TOTAL PRODUCT MARGINAL PRODUCT AVERAGE PRODUCT 1 7 7 7.0 2 15 8 7.5 3 24 9 8.0 4…

Input Product Product Product 14 7.0 15 24 32 39 7.5 8.0 12 3 4 8.0 10 5 7.8 45 7.5 50 7.1 Jaing the 4-point curved line drawing tool, draw the marginal product curve, label this line 'MP Jaing the 4-point curved line drawing tool, draw the average product curve, label this line 'AP. 2- "your control pointa, use 1,3, 4, and 7 units of labor.) ntully folow the instructions above, and only draw the required objects. 10 Units of Labor MP. AP

Input Product Product Product 14 7.0 15 24 32 39 7.5 8.0 12 3 4 8.0 10 5 7.8 45 7.5 50 7.1 Jaing the 4-point curved line drawing tool, draw the marginal product curve, label this line 'MP Jaing the 4-point curved line drawing tool, draw the average product curve, label this line 'AP. 2- "your control pointa, use 1,3, 4, and 7 units of labor.) ntully folow the instructions above, and only draw the required objects. 10 Units of Labor MP. AP

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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