-The Above Table Has the Total Product Schedule for Jesse's

question 96

Essay

$$\begin{array}{l}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Total product }\\\begin{array} { c c } \begin{array} { c } \text { Quantity of labor } \\\text { (workers) }\end{array} & \begin{array} { c } \text { (lawns mowed } \\\text { per day) }\end{array} \\\hline 0 & 0 \\1 & 3 \\2 & 8 \\3 & 15 \\4 & 20 \\5 & 21 \\\hline\end{array}\end{array}$$
-The above table has the total product schedule for Jesse's Lawn Service.
a.In the figure,label the axes and then graph the total product curve.

b.Find the average product for the different amounts of employment.

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Definitions:

Total Product Curve

A curve that shows the relationship between the quantity of inputs used in production and the quantity of output from production.

Marginal Product Curve

A graph that illustrates the change in output when an additional unit of input is added, holding all other inputs constant.

Production Function

Describes the relationship between inputs used in production and the resulting output.

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing for full industry adjustment.