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Hours of Labour Total Output Marginal Product0 – –1 100 1002 – 803 240 –14. What is the total output when 2 hours of labour are employed?(a) 80 (b) 100(c) 180 (d) 20015. What is the marginal product of the third hour of labour?(a) 60 (b) 80(c) 100 (d) 24016. What is the average product of the first three hours of labour?(a) 60 (b) 80(c) 100 (d) 240

Question

Hours of Labour Total Output Marginal Product0 – –1 100 1002 – 803 240 –14. What is the total output when 2 hours of labour are employed?(a) 80 (b) 100(c) 180 (d) 20015. What is the marginal product of the third hour of labour?(a) 60 (b) 80(c) 100 (d) 24016. What is the average product of the first three hours of labour?(a) 60 (b) 80(c) 100 (d) 240

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Solution

  1. The total output when 2 hours of labour are employed is not given in the question. However, if we follow the pattern of the given data, we can infer that the total output is the sum of the output of the first hour and the second hour. Since the output of the first hour is 100 and the output of the second hour is 80, the total output when 2 hours of labour are employed would be 100 + 80 = 180. So, the answer is (c) 180.

  2. The marginal product of the third hour of labour is the additional output produced by the third hour of labour. In the given data, the marginal product of the third hour is not provided. However, if we follow the pattern of the given data, we can infer that the marginal product of the third hour is the difference between the total output of the third hour and the second hour. Since the total output of the third hour is 240 and the total output of the second hour is 180 (as inferred in the previous question), the marginal product of the third hour would be 240 - 180 = 60. So, the answer is (a) 60.

  3. The average product of the first three hours of labour is the total output of the first three hours divided by the number of hours. The total output of the first three hours is 240 (as given in the question). So, the average product of the first three hours of labour would be 240 / 3 = 80. So, the answer is (b) 80.

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