Complete the Table: Capital (K) Labor (L) Total Product Average Product Marginal Product (TP) (AP) (MP) 1 1 10 10 10 1222 12 1 3 37 12.33 14 12.2512 1558 9 1 6 64 10.67 1 7 9.57 3 1 8 67 8.38 1964 -3 110 5.8-6 1. Complete the Table:Capital (K)1111111111Labor (L) Total Product(TP)102237?586412345678910?6764?Average Product(AP)10?12.3312.25?10.679.578.38?5.8Marginal Product(MP)1012?129?3?-3-6

The average product of labor is the total product divided by labor. i.e., AP = (TP / L) The…

Complete the Table: Capital (K) Labor (L) Total Product Average Product Marginal Product (TP) (AP) (MP) 1 1 10 10 10 1222 12 1 3 37 12.33 14 12.2512 1558 9 1 6 64 10.67 1 7 9.57 3 1 8 67 8.38 1964 -3 110 5.8-6

Complete the Table: Capital (K) Labor (L) Total Product Average Product Marginal Product (TP) (AP) (MP) 1 1 10 10 10 1222 12 1 3 37 12.33 14 12.2512 1558 9 1 6 64 10.67 1 7 9.57 3 1 8 67 8.38 1964 -3 110 5.8-6

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. Complete the Table:
Capital (K)
1
1
1
1
1
1
1
1
1
1
Labor (L) Total Product
(TP)
10
22
37
?
58
64
1
2
3
4
5
6
7
8
9
10
?
67
64
?
Average Product
(AP)
10
?
12.33
12.25
?
10.67
9.57
8.38
?
5.8
Marginal Product
(MP)
10
12
?
12
9
?
3
?
-3
-6

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Mm.14. Subject :- Economic