# Maximizing the total amount

From your knowledge of the relationships among the various production functions, complete the following table:

Variable Input Total Product Average Product Marginal Product

L TP L* (=Q) AP L* MP L*

0 0 - -

1 _____ _____ 8

2 28 _____ _____

3 _____ 18 _____

4 _____ _____ 26

5 _____ 20 _____

6 108 _____ _____

7 _____ _____ -10

L* means that the "L" should be a very small capital L... but I don't know how to show that with the keyboard.

Page 332 problem 4

The amount of fish caught per week on a trawler is a function of the crew size assigned to operate the boat. Basted on past data, the following production schedule was developed:

Crew Size Amount of fish caught

(Number of men) per week (hundreds of pounds)

2 3

3 6

4 11

5 19

6 24

7 28

8 31

9 33

10 34

11 34

12 33

a. Over what ranges of workers are there (I) increasing, (ii) constant, (iii) decreasing, and (iv) negative returns?

b. How large a crew should be used if the trawler owner is interested in maximizing the total amount o f fish caught?

c. How large a crew should be used if the trawler owner is interested in maximizing the average amount of fish caught per person?

#### Solution Summary

A fish problem is presented for maximizing the total amount.