1.Draw TP,MPL and APL curves 2.Explain the characteristics of the curves

Application: Returns to Scale in Various Industries (1 of 4) Table 6.1 Total Product, Marginal Product, and Average Product of Labor with Fixed Capital Output, Total Marginal Product of Average Product of Capital, K Labor, L Product, q Labor, MP, = Aq/AL Labor, AP, = q/L 0 8 18 13 8 3 36 18 12 56 20 14 75 19 15 90 15 15 98 14 104 13 108 DO 110 NO 11 10 110 10 8 11 0 8 12 108 8 8 13 104