Total product (meals per hour) 24 20 TP 16 12 4 2 3 5 Quantity of labor (workers) The figure shows the total product curve for the Fruit Bowl food truck. When labor meals and increases from 1 worker to 2 workers, total product increases to bowls. marginal product equals A) 10; 5 B) 5; 10 O C) 2; 2 D) 10; 2

Total product (meals per hour) 24 20 TP 16 12 4 2 3 5 Quantity of labor (workers) The figure shows the total product curve for the Fruit Bowl food truck. When labor meals and increases from 1 worker to 2 workers, total product increases to bowls. marginal product equals A) 10; 5 B) 5; 10 O C) 2; 2 D) 10; 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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
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Consider the isoquant for gelato production as graphed below. Use the graph to answer question 27. Inagedhents A 142 100 2000 Liters of Gelato 20 26 Labor (Emplayges) 27. What is the marginal rate of technical substitution between points A and B? 42 (а) +- 42 (b) 6 (c) 42 (d) It is not possible to determine from this graph.
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Variable input labour Fixed input Land Marginal product Total product Average product 1 5acres 9 2 5acres 20 3 5acres 33 4 5acres 48 5 5acres 55 6 5acres 60 7 5acres 63 8 5acres 64 9 5acres 63 10 5acres 60 i. Complete the table above ii. On the same table show the various stages of production. iii. Explain why marginal product of labour is negative.
Pls explain in simplest way how the marginal product of labor and the average product of labor change as the quantity of labor employed increases (a) initially and (b) eventually
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