Purchase Solution

total output

Not what you're looking for?

Ask Custom Question

The following is a hypothetical short-run production function:

The following is a hypothetical short-run production function

Hours of labor Total output Marginal product
0 ? ?
1 100 100
2 ? 80
3 240 ?

What is the total output when 2 hours of labor are employed?
What is the average product of the first three hours of labor?
What is the marginal product of the third hour of labor?

Purchase this Solution

Solution Summary

Average product is clearly explored in this case.

Solution Preview

The total output when 2 hours of labor are employed is 180 (100 + 80) i.e. total output with 1 hour of ...

Purchase this Solution


Free BrainMass Quizzes
Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.