Example Calculation: Average Product of Labor with 1,600 Farmers
Consider a scenario on the farmers' production function with 1,600 farmers yielding a total of 778,000 kg of grain (Point B). The average product of labor at this point is 486 kg of grain per farmer, calculated as the total output divided by the number of farmers (). Graphically, this average product is represented by the slope of the line segment (or ray) connecting the origin (0,0) to Point B. The slope is computed by dividing the vertical distance from the origin to B (778,000) by the horizontal distance (1,600).
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Example Calculation: Average Product of Labor with 800 Farmers
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Example Calculation: Average Product of Labor with 1,600 Farmers
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Example Calculation: Average Product of Labor with 1,600 Farmers
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Example Calculation: Average Product of Labor with 1,600 Farmers
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