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Marginal product is the change in total product due to hiring of one labor. Here, when first student is hired then total product changed from 0 to 2, hence Marginal product of first student is 2. Now, average product is total product upon labor at that product. Here of first student is 2/1=2. Similarly, you can find answer at each level of labor if you want. I will make a complete table so that you can understand it better. MP AP L - - 0 2 2 1 3 2.5 2 4 3 3 5 3.5 4 4 3.6 5 3 3.5 6
Please let me know if you need any clarification. I'm always happy to answer your questions.
Dec 18th, 2015
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