Production Schedule:

Table shows a Short-run Production Schedule. It is a short-run schedule because it has fixed input (capital) as well as variable input (labour). From Table it is observed that as the employment of the variable factor (labour) increases, total product also rises from zero (0) to six hundred and sixty (660) when employment of labour is seven (7). Any additional employment of units of labour i.e. when labour is eight units (8) and above causes the total product to decline to four hundred and sixty (460) when ten units of labour is employed. The average and the marginal products of labour as depicted in Table increase, but both eventually decline. Marginal product declines to zero (0) and even turns negative after the employment of the seventh unit. Average product on the other hand declines but remains positive so far as total product remains positive.