Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Question
Chapter 11, Problem 11.3.4PA
To determine
The calculation of marginal product of labor and average product of labor.
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The table below shows the number of workers and total output. Calculate marginal and average product for each worker.
Number of Workers
Total Production
Marginal Product
Average Product
1
100
2
220
3
300
4
340
The marginal product of the third worker is Blank 1 and the average product when three workers are employed is
The marginal product of the fourth worker is Blank 3 and the average product when fourth workers are employed is
The table shows the total production of a firm. If units of labour (L) increase, find below.
Units of Labour
Total Product (TP)
Marginal Product (MP)
Average Product (AP)
0
0
1
80
2
200
3
330
4
400
5
450
6
480
7
490
8
480
Compute the marginal product of labour (MP) from first to eighth units of labour.
Now compute the average product (AP) of the various quantities of labour and enter them into the table.
There are increasing return to labour from the first through the ---------------- units of labour and decreasing return from the --------------through eighth units.
When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------
The table shows total production of a firm. If units of labour (L) increase, find below.
Units of Labour
Total Product (TP)
Marginal Product (MP)
Average Product (AP)
0
0
1
80
2
200
3
330
4
400
5
450
6
480
7
490
8
480
Compute the marginal product of labour (MP) from first to eighth units of labour.
Now compute the average product (AP) of the various quantities of labour and enter them into table.
There are increasing return to labour from the first through the ---------------- units of labor and decreasing return from the --------------through eighth units.
When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------
Chapter 11 Solutions
Economics (7th Edition) (What's New in Economics)
Ch. 11.A - Prob. 1RQCh. 11.A - Prob. 2RQCh. 11.A - Prob. 3RQCh. 11.A - Prob. 4PACh. 11.A - Prob. 5PACh. 11.A - Prob. 6PACh. 11.A - Prob. 7PACh. 11.A - Prob. 8PACh. 11.A - Prob. 9PACh. 11.A - Prob. 10PA
Ch. 11.A - Prob. 11PACh. 11.A - Prob. 12PACh. 11.A - Prob. 13PACh. 11.A - Prob. 14PACh. 11.A - Prob. 15PACh. 11 - Prob. 11.1.1RQCh. 11 - Prob. 11.1.2RQCh. 11 - Prob. 11.1.3PACh. 11 - Prob. 11.1.4PACh. 11 - Prob. 11.1.5PACh. 11 - Prob. 11.2.1RQCh. 11 - Prob. 11.2.2RQCh. 11 - Prob. 11.2.3RQCh. 11 - Prob. 11.2.4RQCh. 11 - Prob. 11.2.5PACh. 11 - Prob. 11.2.6PACh. 11 - Prob. 11.2.7PACh. 11 - Prob. 11.2.8PACh. 11 - Prob. 11.2.9PACh. 11 - Prob. 11.2.10PACh. 11 - Prob. 11.2.11PACh. 11 - Prob. 11.2.12PACh. 11 - Prob. 11.3.1RQCh. 11 - Prob. 11.3.2RQCh. 11 - Prob. 11.3.3PACh. 11 - Prob. 11.3.4PACh. 11 - Prob. 11.3.5PACh. 11 - Prob. 11.3.6PACh. 11 - Prob. 11.3.7PACh. 11 - Prob. 11.3.8PACh. 11 - Prob. 11.3.9PACh. 11 - Prob. 11.4.1RQCh. 11 - Prob. 11.4.2RQCh. 11 - Prob. 11.4.3RQCh. 11 - Prob. 11.4.4PACh. 11 - Prob. 11.4.5PACh. 11 - Prob. 11.4.6PACh. 11 - Prob. 11.4.7PACh. 11 - Prob. 11.4.8PACh. 11 - Prob. 11.4.9PACh. 11 - Prob. 11.4.10PACh. 11 - Prob. 11.5.1RQCh. 11 - Prob. 11.5.2RQCh. 11 - Prob. 11.5.3PACh. 11 - Prob. 11.5.4PACh. 11 - Prob. 11.5.5PACh. 11 - Prob. 11.5.6PACh. 11 - Prob. 11.5.7PACh. 11 - Prob. 11.5.8PACh. 11 - Prob. 11.5.9PACh. 11 - Prob. 11.6.1RQCh. 11 - Prob. 11.6.2RQCh. 11 - Prob. 11.6.3RQCh. 11 - Prob. 11.6.4RQCh. 11 - Prob. 11.6.5RQCh. 11 - Prob. 11.6.6PACh. 11 - Prob. 11.6.7PACh. 11 - Prob. 11.6.8PACh. 11 - Prob. 11.6.9PACh. 11 - Prob. 11.6.10PACh. 11 - Prob. 11.6.11PACh. 11 - Prob. 11.6.12PACh. 11 - Prob. 11.6.13PACh. 11 - Prob. 11.1CTECh. 11 - Prob. 11.2CTECh. 11 - Prob. 11.3CTECh. 11 - Prob. 11.4CTE
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- What is a production technology?arrow_forwardMarginal Product Average Product of Labor Units of Total Labor Product of Labor 4 16 5 6. 120 30arrow_forwardNumber of Workers Total Output Marginal Product 0 012345 Refer to the table. What is the total output when 4 workers are hired? 160 units 200 units 10 units 50 60 50 40 30 40 unitsarrow_forward
- workers ouput marginal product total cost average total cost marginal cost 0 0 0 200 0 $0 1 20 20 300 $15 $5 2 50 30 400 $8 $3.33 3 90 40 500 $5.56 $2.50 4 120 30 600 $5 $3.33 5 140 20 700 $5 $5 6 150 10 800 $5.33 $10 7 155 5 900 $5.8 $20 can you explain diminishing marginal product based on these numbers?arrow_forwardThe average product of labor for three workers is 16 and the marginal product of labor for the fourth worker is 6. What is the average product of labor for four workers?arrow_forwardThe table shows total production of a firm. If units of labour (L) increase, find below. 2 marks Units of Labour Total Product (TP) Marginal Product (MP) Average Product (AP) 0 0 1 80 2 200 3 330 4 400 5 450 6 480 7 490 8 480 Compute the marginal product of labour (MP) from first to eighth units of labour. Now compute the average product (AP) of the various quantities of labour and enter them into table. There are increasing return to labour from the first through the ---------------- units of labor and decreasing return from the --------------through eighth units. d. When total production is increasing, marginal product is (positive, negative) --------------- and when total production is decreasing, marginal product is ----------------arrow_forward
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