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9. Fill in the blanks in the following table Units of labor Total product Average prdct uct Marginal product 500 2,000 625 300 2,970 415
9. Fill in the blanks in the following table Units of labor Total product Average prdct uct Marginal product 500 2,000 625 300 2,970 415 -81 10. The following table shows the amount of total output produced from various combinations of labor and capital: Units of capital Units of labor 200.00 230.00 253.00 288.00 317.00 300.00 345.00 380.00 435.00 475.00 400.00 460.00 506.00 575.00 635.00 500.00 575.00 632.00 720.00 3 Calculate the marginal product and average product of labor when capital is held constant at 2 units. When the average product of labor is increasing, what is the relation between the average product and the marginal product? What about when the average product of labor is decreasing? a. b. Calculate the marginal product of labor for each level of the capital stock. How does the marginal product of the second unit of labor change as the capital stock increases? Why
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