Complete the following production schedule:
Units of the variable input | Total Physical Product | Average Physical Product | Marginal Physical Product |
1 | 10 | 10 | -- |
2 | -- | 11 | 12 |
3 | -- | -- | 8 |
4 | 35 | -- | -- |
5 | -- | -- | -5 |
Units of the variable input (Q) | Total Physical Product (TP) | Average Physical Product (AP) | Marginal Physical Product (MP) |
1 | 10 | 10 | 10 |
2 | 22 | 11 | 12 |
3 | 30 | 10 | 8 |
4 | 35 | 8.75 | 5 |
5 | 30 | 6 | -5 |
Total Physical Product (TP) = Average Physical Product (AP) * Units of inputs (Q).
Average Physical Product (AP) = TP/Q
Marginal Physical Product = TPN – TPN-1 /change in Q
• Total Product at unit 2 = AP * Q
= 11*2 = 22
• TP at unit 3 = TPN – TPN-1 /change in Q = 8 (MP at unit 3)
= TPN –22 / 1=8
= TPN = 22+8
= 30
• TP at unit 5 = TPN – TPN-1 /change in Q = -5 MP at unit 5
= TPN – 35 /1 = -5
= TPN = 35-5
= 30
Average product at unit 3, 4 and 5 is 10, 8.75 and 6 simultaneously. Where AP = TP/ Q
Marginal Product at unit 1 is 10 and MP at unit 4 is 5. Where Marginal Physical Product = TPN – TPN-1 /change in Q
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