Units of labour | Average Product (AP) | Marginal Product (MP) | Total Product(TP) |
1 | 8 | - | - |
2 | 10 | - | - |
3 | ? | 10 | - |
4 | 9 | - | - |
5 | 4 | - | |
6 | 7 | - | - |
Output (Q) | Price (Rs.) (P) | Total Revenue (TR) (Rs.) | Marginal Revenue (MR) (Rs.) |
4 | 9 | 36 | - |
5 | - | - | 4 |
6 | - | 42 | - |
7 | 6 | - | - |
8 | - | 40 | - |
Answer:
Average, Marginal and Total Product Schedule
Formulae used TP AP \[\times \] Units of Labour AP TP\[\div \]Units of Labour MP \[T{{P}_{n}}-T{{P}_{n-1}}\] Average, Marginal and Total Revenue Schedule
Units of Labours
Average Product (AP)
Marginal Product(AP)
Total Product (AP)
1
8
8
8
2
10
12
20
3
10
10
30
4
9
6
36
5
8
4
40
6
7
2
42
Formulae used \[TR=Price\times output\] \[Price=TR\times output\] \[MR=T{{R}_{n}}-T{{R}_{n-1}}\]
Output (Units)
Price(Rs.)
Total Revenue(TR)
Marginal Revenue(MR)
4
9
36
?
5
8
36
4
6
7
42
2
7
6
42
0
8
5
40
\[-2\]
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