Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Chapter 7, Problem 2E
To determine
To evaluate the values of total product and marginal product and average product of labor from the given table.
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From your knowledge of the relationships among the various production functions, complete the following table:
Variable Input L Total Product Q Average Product AP₁ Marginal Product MPL
0
0
1
2
3
4
5
6
7
30
二二二二
120
20.00
24.00
15
||
45
-15
please computation for the following production function. found in table 13 show computation for each row.
From your knowledge of the relationships among the various production functions, complete the following table:
Variable Input L
Total Product QQ
Average Product APLAPL
Marginal Product MPLMPL
0
0
1
10
2
20
3
13.33
4
30
5
16.00
6
80
7
-10
Chapter 7 Solutions
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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