Table 6.1 Total Product, Marginal Product, and Average ...
Table 6.1 Total Product, Marginal Product, and Average Product of Labor with Fixed Capital
? 2009 Pearson Addison-Wesley. All rights reserved.
6-10
Output, q, Units per day
Figure 6.1
(a)
Production
110
Relationships
90
with Variable
56
Labor
Diminishing Marginal Returns
0
(b)
sets in!
20!
APL
,
MPL
15
0
C
B
A
4
6!
a!
11!
L, Workers per day
b!
Average product, APL
Marginal product, MPL
4
6!
c! 11!
L, Workers per day
Table 6.2 Output Produced with Two Variable Inputs
? 2009 Pearson Addison-Wesley. All rights reserved.
6-17
Figure 6.2 Family of Isoquants
6
a
K,
Units of capital per d
a
y
3
b
2
e
c
1
0
1
2
3
? 2009 Pearson Addison-Wesley. All rights reserved.
f
q
=
35
d
q
=
24
q
=
14
6
L,
W
o
r
k
e
rs per da
y
6-18
Figure 6.3a,b Substitutability of Inputs
? 2009 Pearson Addison-Wesley. All rights reserved.
6-20
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