The following table shows data for a sample production function. Average Total Marginal Product (TP) Product (AP) Product (MP) Capital (K) Labor (L) 10 10 10 18 10 10 10 10 10 10 10 8 1 2 3 4 5 6 7 8 9 10 0 5 15 30 50 75 85 90 92 92 98 Question #4 At what output is is average product maximized? I also posted other questions (#1, #2 and #3). I hope you will answer them too.

The following table shows data for a sample production function. Average Total Marginal Product (TP) Product (AP) Product (MP) Capital (K) Labor (L) 10 10 10 18 10 10 10 10 10 10 10 8 1 2 3 4 5 6 7 8 9 10 0 5 15 30 50 75 85 90 92 92 98 Question #4 At what output is is average product maximized? I also posted other questions (#1, #2 and #3). I hope you will answer them too.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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