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  • 27 Total Product Average Product and Marginal Product

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    Cherry Mae Grimaldo Fabavier
    12 Ansichten129 Seiten
    As more labor is added, total product increases but at a decreasing rate, as shown by the falling marginal product. Total product starts at 50 and peaks at 150 with 5 units of labor, after which it begins decreasing. Average product is total product divided by labor, and is highest when total product is increasing at the fastest rate. Marginal product is the change in total product from adding an additional unit of labor.

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    As more labor is added, total product increases but at a decreasing rate, as shown by the falling marginal product. Total product starts at 50 and peaks at 150 with 5 units of labor, after which it begins decreasing. Average product is total product divided by labor, and is highest when total product is increasing at the fastest rate. Marginal product is the change in total product from adding an additional unit of labor.

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    12 Ansichten129 Seiten

    27 Total Product Average Product and Marginal Product

    Hochgeladen von

    Cherry Mae Grimaldo Fabavier
    As more labor is added, total product increases but at a decreasing rate, as shown by the falling marginal product. Total product starts at 50 and peaks at 150 with 5 units of labor, after which it begins decreasing. Average product is total product divided by labor, and is highest when total product is increasing at the fastest rate. Marginal product is the change in total product from adding an additional unit of labor.

    Copyright:

    © All Rights Reserved
    Als XLSX, PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 129

    Total Product, Average Product and Marginal Product

    L (units of TP (Total AP(Average


    labor)
    Product) Product)
    1
    50
    2
    90
    3
    120
    4
    140
    5
    150
    6
    150
    7
    147

    MP (Marginal
    Product)
    50
    45
    40
    35
    30
    25
    21

    Total Product

    50
    40
    30
    20
    10
    0
    -3
    Average Product

    Marginal product

    160
    140
    120
    100
    TP, AP, MP

    80
    60
    40
    20
    0
    0
    -20

    4
    Labor

    http://www.whatiseconomics.org

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