Friday, May 10, 2013

Production Exercise 1



Fill in the gaps in the table below.




Quantity of
Variable Input
Total
Output
Marginal Product
of Variable Input
Average Product
of Variable Input
0
0
1
225
---
---
2
---
---
300
3
---
300
---
4
1140
---
---
5
 ---
225
 ---
6
 ---
 ---
225







5 comments:

  1. QVI - TO - MPVI - APVI
    0 - 0 - -- - --
    1 - 225 - 225 - 225
    2 - 600 - 375 - 300
    3 - 900 - 300 - 300
    4 - 1140 - 240 - 285
    5 - 1365 - 225 - 273
    6 - 1350 - (-15)- 225

    QVI - Quantity of Variable Input
    TO - Total Output (APVI * QVI)
    MPVI - Marginal Product of Variable Input (TO below-TO above)
    AVPI - Average Product of Variable Input (TO/QVI)

    ReplyDelete
  2. when quantity of variable = 1
    total output = 225
    marginal = 225
    average = 225

    when quantity of variable = 2
    total output = 150
    marginal = -75
    average = 300

    when quantity of variable = 3
    total output = 375
    marginal = 300
    average =125

    when quantity of variable = 4
    total output = 1140
    marginal = 765
    average = 285

    when quantity of variable = 5
    total output = 1365
    marginal = 225
    average = 273

    when quantity of variable = 6
    total output = 1350
    marginal = -15
    average = 225




    ReplyDelete
  3. ANSWER:

    QVI - TO - MPVI - APVI
    0 0 — —
    1 225 225 225
    2 600 375 300
    3 900 300 300
    4 1140 240 285
    5 1365 225 273
    6 1350 -15 225

    ReplyDelete
  4. total output=average product of variable inputxquantity of variable output
    225
    300x2=600
    300x3=900
    1140
    1365
    225x6=1350

    marginal product of variable input= total output 1-total output 0 so:
    0-0=-
    225-0=225
    600-225=275
    300
    1140-900=240
    225
    -15

    average product of variable input= total output/quantity of variable output so:
    0-0=-
    225/1=225
    300
    900/3=300
    1140/4=285
    1365/5=273
    225

    thankyou sir :)

    ReplyDelete