Question

At labor unit of​ 0, 1,​ 2, 3,​ 4, 5 and 6 total product will be​ 0, 12,​ 28, 36,​ 42, 44 and 44 respectively. Using this information list marginal product and average product for each labor unit.

Answer 1

See explanation section

Step-by-step explanation:

We know,

Marginal Product = ΔQ ÷ ΔL

ΔQ = (
`Q_(1)`) - (
`Q_(0)`) [It means current quantity minus previous quantity.]

ΔL =
`L_(1) - L_(0)` [It means current labor unit minus previous labor unit.]

Average product = Total product ÷ Labor

Labor Total Product Marginal Product Average Product

(L) (Q) (
`MP_(L)`) (
`AP_(L)`)

0 0 0 0

1 12 (12-0) ÷ (1-0) = 12 (12÷1) = 12

2 28 (28-12) ÷ (2-1) = 16 (28÷2) = 14

3 36 (36-28) ÷ (3-2) = 8 (36÷3) = 12

4 42 (42-36) ÷ (4-3) = 6 (42÷4) = 10.5

5 44 (44-42) ÷ (5-4) = 2 (44÷5) = 8.8

6 44 (44-44) ÷ (6-5) = 0 (44÷6) = 7.3