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Homework answers / question archive / Solve the followingproblems, Chapter 6 (9zokbss, Levitt and,a
Solve the followingproblems, Chapter 6 (9zokbss, Levitt and,a.....rsontextbook)
1. Complete the table below:
Labor Input Total Product Marginal Product Average Product 0 0 — — 1 70 2 135 3 63 4 51 5 57 6 324
| Labor Input | Total Product | Marginal Product | Average Product |
| 0 | 0 | - | - |
| 1 | 70 | 70 | 70 |
| 2 | 135 | 65 | 67.5 |
| 3 | 189 | 54 | 63 |
| 4 | 240 | 51 | 60 |
| 5 | 285 | 45 | 57 |
| 6 | 324 | 39 | 54 |
| Labor Input | Total Product | Marginal Product | Average Product |
| 0 | 0 | - | - |
| 1 | =0+70 | 70 | =70/1 |
| 2 | 135 | =135-70 | =135/2 |
| 3 | =63*3 | =189-135 | 63 |
| 4 | =189+51 | 51 | =240/4 |
| 5 | =57*5 | =285-240 | 57 |
| 6 | 324 | =324-285 | =324/6 |
