Calculating the marginal physical product of labour

Reference no: EM1313881

Use the following data for a firm's output at various levels of employment to calculate: (a) its marginal physical product of labour (MPPL) schedule; (b) its (MPPL/MRCL) schedule, given a fixed wage of $20 per hour per worker. (c) Assuming that capital is held constant at 2 machines and MPPK/MRCK = 30, what is the least-cost input-combination of labour and capital and how much output is produced with that set of resources?

Number of Workers (L)	Output (Q)
1	1000
2	2600
3	4000
4	5200
5	5800
6	6200

Reference no: EM1313881

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