Complete the following table: | ||
Units of Labour | Average Product (Units) | Marginal Product (Units) |
1 | 16 | ..... |
2 | 20 | ..... |
3 | ..... | 20 |
4 | 18 | ..... |
5 | ..... | 8 |
6 | 14 | ..... |
Answer:
Units of Labour
Average Product \[AP=\frac{TP}{L}\]
Marginal Product (Units) \[M{{P}_{n}}=T{{P}_{n}}-T{{P}_{n-1}}\]
Total Product TP=AP \[\times \] L or, \[T{{P}_{n}}=T{{P}_{n-1}}+M{{P}_{n}}\]
1
16
-
\[16(1~\times 16)\]
2
20
\[24(40-16)\]
\[40(2\times ~20)\]
3
\[20\left( 60-3 \right)\]
20
\[60\left( 40+20 \right)\]
4
18
\[12\left( 72-60 \right)\]
\[72(4~\times 18)\]
5
\[16\left( 80-5 \right)\]
8
\[80\left( 72+8 \right)\]
6
14
\[4\left( 84-80 \right)\]
\[84(6~\times 14)\]
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