Intermediate Microeconomics · free preview
The Marginal Product Curve and the Short Run
A worked numerical pass through the short run of the square-root technology, total, marginal, and average products tabulated, the marginal-average rule checked at each row, and the geometry connected to the coming cost curves.
1. The schedule
The schedule
2. Reading the columns
Reading the columns
3. From products to costs, a preview
From products to costs, a preview
4. The module closed
The module closed
5. Tabulating output
For g equal to 3 root x1, what is output at x1 equal to 9?
6. The margin at the row
What is marginal product at x1 equal to 9 for this slice?
7. Average versus marginal
At x1 equal to 4, average product is 1.5 and marginal 0.75. What does the gap imply?
8. The cost preview
How does marginal cost relate to marginal product when the input costs w per unit?
9. The fourth-row total
Compute total output at x1 equal to 16 for g equal to 3 root x1, and write the number.
10. The margin at the fourth row
Compute marginal product at x1 equal to 16, and write the number as a decimal or fraction.
11. Average at sixteen
For g equal to 3 root x1 at x1 equal to 16, output is 12. What is average product?
12. The cost of the ninth unit
With input price w of 12, what is marginal cost at x1 equal to 9 where marginal product is 0.5?
13. Cost rising with the margin falling
At x1 equal to 16, marginal product is 0.375. With w still 12, what is marginal cost there?
14. Output at twenty-five
For g equal to 3 root x1, what is output at x1 equal to 25, and the average product?
15. Average at sixteen
For g equal to 3 root x1, compute average product at x1 equal to 16, and write the number.
16. Output at twenty-five
For g equal to 3 root x1, compute output at x1 equal to 25, and write the number.
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