N4 The total number of output obtained per hour (q) is given byq =KVIwhere L is labor input per hour and K is capital input per hour.The marginal productivity of labor (MPL) is given by50MPL =VIif K=100.Find the average productivity of labor (APL) if K is 100 and Draw the MPL and APL.

The average productivity of labor is qL calculating it using the production function and formula:…

Answered: The total number of output obtained per…

ENGR.ECONOMIC ANALYSIS

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The total number of output obtained per hour (q) is given by q =KT where L is labor input per hour and K is capital input per hour. The marginal productivity of labor (MPL) is given by 50 MPL if K=100. Find the average productivity of labor (APL) if K is 100 and Draw the MPL and APL.