Suppose that there is a company involved in the production of foodstuff As an expert in production, you are needed to analyze the performance of that company by focusing on the Marginal Product of Labor (MPL) and Average Product of Labor (APL) And the following data is given below Inputs of Labor Total Product Marginal Product of Labor (MPL) Average Product of Labor (APL) 0 1 2 3 4 5 6 7 8 0 15 34 51 65 74 80 83 82 Complete the table above by calculating the marginal and average products from the data given (5 marks) Plot the total, marginal and average products and explain the relationship between each pair of curves in detail (8 marks) Explain why marginal product rises, declines, and ultimately becomes negative

Question: Suppose that there is a company involved in the production of foodstuff. As an expert in production, you are needed to analyze the performance of

Suppose that there is a company involved in the production of foodstuff. As an expert in production, you are needed to analyze the performance of that company by focusing on the Marginal Product of Labor (MPL) and Average Product of Labor (APL). And the following data is given below;

Inputs of Labor

Total Product

Marginal Product of Labor (MPL)

Average Product of Labor (APL)

Complete the table above by calculating the marginal and average products from the data given. (5 marks)
Plot the total, marginal and average products and explain the relationship between each pair of curves in detail.

(8 marks)

Explain why marginal product rises, declines, and ultimately becomes negative.

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