A firm's TP with 1, 2 and 3 workers is 20, 50 and 75. Which statement is correct?

MP is 20, 25, 25 and AP is 20, 30, 25Correct answerYour answerMP is 20, 50, 75 and AP is 20, 25, 25Correct answerYour answerMP is 20, 30, 25 and AP is 20, 25, 25Correct answerYour answerMP and AP are both 20, 30, 25Correct answerYour answer

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CorrectNot quiteAnswer C

Correct answer: C

MP: 20, 50 − 20 = 30, 75 − 50 = 25.
AP: 20 ÷ 1 = 20, 50 ÷ 2 = 25, 75 ÷ 3 = 25.

Concept: MP and AP from TP
Typical timeTypical: 100 s
Your timeYours: —

The rule this testsTotal, marginal and average product

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Ten questions from Production Function: TP, MP and AP, at your own pace.

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A firm's TP with 1, 2 and 3 workers is 20, 50 and 75. Which statement is correct?

Explanation