To find the average product of labor, divide the total product by the number of units of labor employed. In this case, the total product for employing 11 units of labor is 380, so the average product of labor is 380/11 = 34.55.
To find the marginal product of labor, subtract the total product with 11 units of labor from the total product with 12 units of labor. In this case, the total product with 12 units of labor is 365 and the total product with 11 units of labor is 380, so the marginal product of labor is 365 - 380 = -15.
It seems like there might have been a mistake in the given answer. The correct average product of labor should be 34.55 and the correct marginal product of labor should be -15.
Suppose that the firm decided to consider employing a 12th unit of labor, which it has determined would result in a decrease in total product from 380 units of output (employing 11 units of labor) to 365
units of output. If it were to do this, what would be the resulting average product of labor and marginal product of labor?
the answer are:
verage product of labor = 30.4
marginal product of labor = 15.0
How do I get to those answer
1 answer
1 answer