Production And Costs
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 |
1 |
2 |
3 |
4 |
5 |
6 |
MPL |
3 |
5 |
7 |
5 |
3 |
1 |
L |
MPL |
TPL = ΣMPL |
APL = TPL/L |
1 |
3 |
3 |
3 |
2 |
5 |
8 |
4 (= 8/2) |
3 |
7 |
15 |
5 |
4 |
5 |
20 |
5 |
5 |
3 |
23 |
4.6 |
6 |
1 |
24 |
4 |
Sponsor Area
How will an increase in number of firms shifts the market supply curve?
Sponsor Area
Sponsor Area