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