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    maximizing the total amount

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    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?

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    https://brainmass.com/economics/production/maximizing-the-total-amount-69134

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    Solution Summary

    A fish problem is presented for maximizing the total amount.

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