Need economics help about selling magazine subscriptions

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Economics

Description

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Explanation & Answer

Thank you for the opportunity to help you with your question!

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.


Anonymous
Awesome! Perfect study aid.

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