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ECON 517 b. Draw a line from the origin to the point on the TP curves corresponding with L=3. Calculate the slope of this line.
ECON 517 b. Draw a line from the origin to the point on the TP curves corresponding with L=3. Calculate the slope of this line. What does the slope of this line represent? (Hint: slope = A) The slope is 50 here (159/) and is linear, It helps make predictions and intechus when these. are 3 units of labor c. How can we represent the MP in our TP graph? Demonstrate your answer within the TP graph at L = 3. Explain how we can use graph to determine whether the AP is >,
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