From the table above, find the values of E and F respecti...
From the table above, find the values of E and F respectively
27 and 1
68 and 12
28 and 5
12 and 19
Correct answer is A
To get the total product for E multiply unit of labour by the average product.
Thus we have 3 x 9 = 27
marginal product for F is gotten as change in the total product. Thus we have 28 - 27 = 1
| Unit of labor | Total product | Average product | Marginal product |
| 1 | 8 | 8 | - |
| 2 | 20 | 10 | 12 |
| 3 | 27 | 9 | 7 |
| 4 | 28 | 7 | 1 |
| 5 | 40 | 8 | 12 |
Similar Questions
The additional revenue obtained by using one more unit of a factor is called its ...
A market equilibrium exist when ...
If technology becomes less capital-intensive, it means ...
When a union is composed of workers with the same skill, it is called___________ ...
The excess profit made by a firm in a competitive market situation in the short-term is known as ...
In the long run, one of the characteristics of monopolistic competitive firms is that they ...