The following table gives the total product schedule of labour. Find the corresponding average product and marginal product schedules of labour.
L | TPL |
0 | 0 |
1 | 15 |
2 | 35 |
3 | 50 |
4 | 40 |
5 | 48 |
L | TPL | AP | MP |
0 | 0 | 0 | 0 |
1 | 15 | 15 | 15 |
2 | 35 | 17.5 | 20 |
3 | 50 | 16.67 | 15 |
4 | 40 | 10 | 10 |
5 | 48 | 9.60 | 8 |
MP – Marginal Product = TPN+1 - TPN
AP – Average Product = TP / L