AP Microeconomics | 4.

2 Marginal Product Assignment

Directions: Complete this assignment by filling in the table and answering each question in the document below. This
assignment will be graded out of 10 points with 2 points possible for each question.

1) Use the chart below to calculate marginal product.

Labor Input Total Product Marginal Product

0 0 0

1 10 10/1 = 10

2 26 16/1 = 16

3 48 22/1 = 22

4 71 23/1 = 23

5 86 15/1 = 15

6 96 10/1 = 10

7 95 -1/1 = -1

8 90 -5/1 = -5

2) Use the chart above to determine the labor input when diminishing returns to an input sets in. Explain your
answer.
At 5, that’s when the marginal product increase starts decreasing.
3) Use the chart above to determine the labor input when negative returns to an input sets in. Explain your answer.
At 7, we have a negative marginal product, adding one more unit of labor is reducing the total output.
4) In which time horizon, the long run or the short run can a firm adjust the quantity of any input type?

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Long Run

5) What is the difference between total product and marginal product?

Total product represents the total output produced by a quantity of input, marginal product measures additional input
gained by employing more units of labor.

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