Chapter 1. Chapter 7a

Step 1

Solved Problems
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You must read each slide, and complete any questions on the slide, in sequence.

Question

Fill in the blanks for the total product (TP), average product (AP), and marginal product (MP). Round each answer to one decimal if necessary.

# Workers Total Product Average Product Marginal Product
0 0
1 12 XE8G1L0xrg35SBBa XE8G1L0xrg35SBBa
2 25 KDcUqOYoaQA= kiakMnV3sWH2yEsB
3 39 kiakMnV3sWH2yEsB I+92coDbgnQgzotJ
4 QxC5kocbJ6eb5Aq6 12 9
5 y8kaxF0+IEuV50wQ 10 2
6 40MyB/4mayiL7kUJ 8.5 1
Table
3
For rows 1-3: Average product per worker is total product divided by the number of workers. Marginal product is calculated by subtracting total product’s previous value from its new one.
Total product can be found in two ways. First, since AP = TP/Q, TP is AP multiplied by Q. Second, you can add the marginal product to each previous total product value to get each new value.

Step 2

Question

# Workers Total Product Average Product Marginal Product
0 0
1 12 12 12
2 25 12.5 13
3 39 13 14
4 48 12 9
5 50 10 2
6 51 8.5 1
Table

When two workers are used, marginal product is z2H7fp2S9tD82aN97UPA7XeGxkDCT3pbJxVOJCPXjL8DEU/9 average product, and average product is VbtCAUUR37loBh3w13m5DMqlkDGNyGNpIbV4ky++5JU=.

3
When two workers are used, AP = 12.5 and MP = 13. Since marginal product is greater than average product, it pulls up the average product.

Step 3

Question

# Workers Total Product Average Product Marginal Product
0 0
1 12 12 12
2 25 12.5 13
3 39 13 14
4 48 12 9
5 50 10 2
6 51 8.5 1
Table

When four workers are used, marginal product is /y6vfq2BDkdET4glyC0t+gaPVyB4m0u3WTCamdq0gh84bAIp average product, and average product is jOzvD/BCo/3TJ5gmcW0YealfMMUoRiKzr87mqaNTsTQ=.

3
When four workers are used, AP = 12 and MP = 9. Since marginal product is less than average product, it pulls down the average product.