Compute marginal physical product of labor schedule

Reference no: EM1373739

Use the following information for a company's output at various levels of employment (L) to compute:

Number of Workers (L) Output (Q)
1 100
2 300
3 600
4 850
5 1000
6 1100

[A] Its marginal physical product of labor (MPPL) schedule;

[B] Its (MPPL/MRCL) schedule, given a fixed wage (W = MRCL) of $25 per hour per worker.

[C] Suppose that capital (K) is held constant at 2 machines and MPPK/MRCK = 10, what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?

Reference no: EM1373739

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