Graph Total Product, Average Product and Marginal Product curves from the table given Land111111111i.j.Labor012345678a. The average production of three workers isb. The marginal product of the third worker isc. What labor and land combination can we attain maximum production?d.The eighth labor contribution to the total production level ise. What is the contribution of the sixth worker?f. The average production level of two workers isg. The additional productivity of the fourth worker ish. What is the marginal productivity of the 7th worker?What is the average productivity of 8 workers?What is the average productivity of five workers?Total Output038121517171613

Since you have given multiple subparts questions, we will solve the first three subparts for you. If…

Land 1 1 1 1 1 1 1 1 1 Labor 0 1 2 3 4 5 6 7 8 a. The average production of three workers is b. The marginal product of the third worker is c. What labor and land combination can we attain maximum production? Total Output 0 3 8 12 15 17 17 16 13

Land 1 1 1 1 1 1 1 1 1 Labor 0 1 2 3 4 5 6 7 8 a. The average production of three workers is b. The marginal product of the third worker is c. What labor and land combination can we attain maximum production? Total Output 0 3 8 12 15 17 17 16 13

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter30: The Labor Market

Section: Chapter Questions

Problem 14E

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Question

Graph Total Product, Average Product and Marginal Product curves from the table given

Land
1
1
1
1
1
1
1
1
1
i.
j.
Labor
0
1
2
3
4
5
6
7
8
a. The average production of three workers is
b. The marginal product of the third worker is
c. What labor and land combination can we attain maximum production?
d.
The eighth labor contribution to the total production level is
e. What is the contribution of the sixth worker?
f. The average production level of two workers is
g. The additional productivity of the fourth worker is
h. What is the marginal productivity of the 7th worker?
What is the average productivity of 8 workers?
What is the average productivity of five workers?
Total Output
0
3
8
12
15
17
17
16
13

Defintion Defintion Curve that represents the graphical relationship between the total supply of goods and services and the price level in the economy. When the price level increases, producers tend to supply more of a product in the market to earn a higher revenue or vice versa.

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