Question: With the following information on variable input and production, answer the questions and prepare the graphs that are requested: Labor (variable input) per week Production
With the following information on variable input and production, answer the questions and prepare the graphs that are requested:
| Labor (variable input) per week | Production per week | average product | marginal product |
| 1 | 1 |
|
|
| 2 | 3 |
|
|
| 3 | 6 |
|
|
| 4 | 10 |
|
|
| 5 | 15 |
|
|
| 6 | 21 |
|
|
| 7 | 26 |
|
|
| 8 | 30 |
|
|
| 9 | 33 |
|
|
| 10 | 35 |
|
|
| 11 | 33 |
|
|
Build the total product curve (graph #1). Plot the average product curve and the marginal product curve on a separate graph from no. 1. (graphic #2)
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