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  • Theory of Production and Cost - Spreadsheet3571

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    vivekbhartiofficial11
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    The document shows the relationship between the quantity of labor used, total product produced, average product, and marginal product. As the quantity of labor increases from 0 to 5 workers, total product and marginal product increase, but at a decreasing rate, while average product first increases then decreases. Beyond 5 workers, adding more labor results in diminishing or negative returns.

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    Theory of Production and Cost - Spreadsheet3571 (1)

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    The document shows the relationship between the quantity of labor used, total product produced, average product, and marginal product. As the quantity of labor increases from 0 to 5 workers, total product and marginal product increase, but at a decreasing rate, while average product first increases then decreases. Beyond 5 workers, adding more labor results in diminishing or negative returns.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views1 page

    Theory of Production and Cost - Spreadsheet3571

    Uploaded by

    vivekbhartiofficial11
    The document shows the relationship between the quantity of labor used, total product produced, average product, and marginal product. As the quantity of labor increases from 0 to 5 workers, total product and marginal product increase, but at a decreasing rate, while average product first increases then decreases. Beyond 5 workers, adding more labor results in diminishing or negative returns.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    quantity of labour total product average product marginal product

    0 0 0 0
    1 6 6 6
    2 20 10 14
    3 48 16 28
    4 72 18 24
    5 80 16 8
    6 84 14 4
    7 84 12 0
    8 80 10 -4

    relationship between TP,MP and AP


    90
    80
    70
    60
    50
    40
    30
    20
    10
    0
    0 1 2 3 4 5 6 7 8 9
    -10

    total product average product marginal product

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