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Complete the hypothetical table - compute and show steps on Average Product and Marginal product. (5 Marks) Quantity Total Product Average Product Marginal product 1 10 2 30 3 48 4 56 5 56 6 52

User Avakar
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Here is the complete hypothetical table which includes the average product and the marginal product:

Quantity Total product Average product Marginal product

1 10 10 10

2 30 15 20

3 48 16 18

4 56 14 8

5 56 11.2 0

6 52 8.67 -4

How do we solve the problems?

We shall solve the problems by first calculating the Average Product:

To calculate the Average Product for Quantity 1, we divide the Total Product by the Quantity:

Average Product = Total Product / Quantity

Average Product 1 = 10 / 1 = 10

Average Product 2 = 30 / 2 = 15

Average Product 3 = 48/3 = 16

Average Product 4 = 56 / 4 = 14

Average Product 5 = 56 / 5 = 11.2

Average Product 6 =52 / 6 = 8.7

Next, we calculate the Marginal Product:

To do this, we subtract the Total Product for the previous Quantity from the Total Product for the current Quantity.

To calculate the Marginal Product:

Marginal Product = Total Product (Current Quantity) - Total Product (Previous Quantity)

Marginal Product 1 = 10 - 0 (there is no previous quantity) = 10

Marginal Product 2 = 30 - 10 = 20

Marginal Product 3 = 48 - 30 = 18

Marginal Product 4 = 56 - 48 = 8

Marginal Product 5 = 56 - 56 = 0

Marginal Product 1 = 52 - 56 = -4

User Mandrake
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