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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. - Economics

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

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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
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APPEARS IN

NCERT Class 12 Economics Introductory Microeconomics
Chapter 3 Production And Costs
Exercise | Q 24 | Page 51
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