Economics Exercise

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labour total product average product marginal product

0 0 0
1 9 9 9
2 16 8 7
3 23 7.6 7
4 26 6.5 3
5 26 5.2 30
30 0
6 24 4 -2
25
25

20
20

15 labo
15 tota
ave
10
mar
10
5
5
0
1 2 3 4 5 6 7
0
-5 1 2 3 4 5 6 7
labour
total product
Column A
Column B
averageColumn
productB
marginal product

5 6 7
5 6 7
total product labour fixed cost tvc tc afc avc atc mc
0 0 $20 $0 $20
9 1 $20 $10 $30 $2 $1.11 $3.33 1.428571
16 2 $20 $20 $40 $1.25 $1.25 $2.50 1.428571
23 3 $20 $30 $50 $0.87 $1.30 $2.17 3.333333
26 4 $20 $40 $60 $0.77 $1.54 $2.31
26 5 $20 $50 $70 $0.77 $1.92 $2.69
24 6 $20 $60 $80 $0.83 $2.50 $3.33

3.5

2.5
afc
2 avc
atc
1.5 mc

0.5

0
1 2 3 4 5 6 7
afc
avc
atc
mc

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