Sum
The following table gives the marginal product schedule of labour. It is also given that total product of labour is zero at zero level of employment. Calculate the total and average product schedules of labour.
|
L |
MPL |
|
1 |
3 |
|
2 |
5 |
|
3 |
7 |
|
4 |
5 |
|
5 |
3 |
|
6 |
1 |
Advertisement Remove all ads
Solution
|
L |
MPL |
TPn = TPn-1 + MPn |
`"AP"_L="TP"_L/L` |
|
1 |
3 |
3 |
`3/1=3` |
|
2 |
5 |
3 + 5 = 8 |
`8/2=4` |
|
3 |
7 |
8 + 7 = 15 |
`15/3=5` |
|
4 |
5 |
15 + 5 = 20 |
`20/4=5` |
|
5 |
3 |
20 + 3 = 23 |
`23/5=4.6` |
|
6 |
1 |
23 + 1 = 24 |
`24/6=4` |
Concept: Average Product
Is there an error in this question or solution?
Advertisement Remove all ads
APPEARS IN
Advertisement Remove all ads
Advertisement Remove all ads
