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Question
The following table gives the total product schedule of labour. Find the corresponding average product and marginal product schedules of labour.
|
L |
TPL |
|
0 |
0 |
|
1 |
15 |
|
2 |
35 |
|
3 |
50 |
|
4 |
40 |
|
5 |
48 |
Sum
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Solution
|
L |
TPL |
`"AP"="TP"/L` |
`"MP"="TP"_n-"TP"_(n-1)` |
|
0 |
0 |
− |
− |
|
1 |
15 |
15 |
15 |
|
2 |
35 |
17.5 |
20 |
|
3 |
50 |
16.67 |
15 |
|
4 |
40 |
10 |
− 10 |
|
5 |
48 |
9.6 |
8 |
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