Class 12 Micro Economics - Chapter Production and Costs NCERT Solutions | The following table gives the total prod
The following table gives the total product schedule of labour. Find the corresponding average product and marginal product schedules of labour.
|
L |
TPL (Units) |
|
0 |
0 |
|
1 |
15 |
|
2 |
35 |
|
3 |
50 |
|
4 |
40 |
|
5 |
48 |
|
L |
TPL (units) |
AP=ΔTPΔLAP=ΔTPΔL
|
MP=TPn−TPn−1MP=TPn−TPn−1 |
|
0 |
0 |
0 |
- |
|
1 |
15 |
15.00 |
15 |
|
2 |
35 |
17.50 |
20 |
|
3 |
50 |
16.67 |
15 |
|
4 |
40 |
10.00 |
-10 |
|
5 |
48 |
9.60 |
-8 |
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Quantity
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2
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7
8
9
Marginal
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The market demand curve for a commodity and the total cost for a monopoly firm producing the commodity are given in the schedules below.
Quantity
0
1
2
3
4
5
6
7
8
Price
52
44
37
31
26
22
19
16
13
Quantity
0
1
2
3
4
5
6
7
8
Price
10
60
90
100
102
105
109
115
125
Use the information given to calculate the following:
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