Authors libby rittenberg 418
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Figure 8.2 From Total Product to the Average and Marginal Product of
Labor
The first two rows of the table give the values for quantities of labor
and total product fromFigure 8.1 "Acme Clothing’s Total Product
Curve". Marginal product, given in the third row, is the change in
output resulting from a one-unit increase in labor. Average product,
given in the fourth row, is output per unit of labor. Panel (a) shows the
total product curve. The slope of the total product curve is marginal
product, which is plotted in Panel (b). Values for marginal product are
plotted at the midpoints of the intervals. Average product rises and
falls. Where marginal product is above average product, average
product rises. Where marginal product is below average product,
average product falls. The marginal product curve intersects the
average product curve at the maximum point on the average product
curve.
Attributed to Libby Rittenberg and Timothy Tregarthen
Saylor URL: />
Saylor.org
418
