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2 years ago

Help solve the blanks

Business

1 answer:

viva [34]2 years ago

6 0

Here is the completed table:

Labor Total Product Marginal Product Average Product

0 0 N / A N / A

1 10 10 10

2 25 15 12.50

3 45 20 15

4 63 18 15.75

5 75 12 15

6 80 5 13.3

7 80 0 13.3

8 68 - 12 8.50

<h3>How to determine the total product, marginal product and average product?</h3>

The total product is determined by multiplying the average product by the number of labor. Total product of a labor can also be determined by adding the marginal product of that labor with the total product of the preceding total labor.

Blank 1 : 10 x 1 = 10

Blank 5: 25 + 20 = 45

Blank 7: 15.75 x 4 = 63

Blank 9: 63 + 12 = 75

Blank 13: 80 + 0 = 80

Blank 15: 8.50 x 8 = 68

Marginal product is the change in total product when labor is increased by 1.

Blank 2 : 10 - 0 = 10

Blank 3 : 25 - 10 = 15

Blank 8: 63 - 45 = 18

Blank 11: 80 - 75 = 5

Blank 16: 68 - 80 = - 12

Average product is the total labor divided by the total labor.

Blank 4: 25 / 2 = 12.50

Blank 6: 45 / 3 = 15

Blank 10: 75 / 5 = 12

Blank 12: 80 / 6 = 13.33

Blank 14 : 68 / 8 = 8.50

To learn more about marginal product, please check: brainly.com/question/13623353

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